Global Logistic Properties says it has obtained listing approval for J-REIT from the Tokyo Stock Exchange.
J-REIT will be listed on the Tokyo Stock Exchange and units of the J-REIT will be offered through an initial public offering to be undertaken in Japan, says GLP in a press statement.
However, GLP says "no public offering of units of the J-REIT will be made in Singapore".
The group says it will retain a unitholding interest of 15% in the J-REIT upon the completion of the initial public offering and has also agreed not to dispose its unitholding interest for a period of 360 calendar days after the delivery of the units to the group.
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