GLP targets 20 billion dollar valuation for Hong Kong IPO

The logistics firm GLP is seeking a valuation of approximately $20 billion for a planned initial public offering in Hong Kong, according to sources familiar with the matter. The Singapore-based company has reportedly held discussions with financial advisers, including Citigroup Inc. and Morgan Stanley, regarding the potential listing which could proceed as early as this year. While the final size and timing of the offering have not been determined, the move would represent a significant addition to the city's financial markets. Under local exchange regulations, large-capitalization companies are typically required to float at least 15% of their shares during an initial public offering. The potential listing comes at a time of increased activity for the region's equity capital markets. Data from the HKEX and the London Stock Exchange Group plc indicates that the market raised $5.5 billion in January 2026, marking its strongest start to a year since 2021.

This IPO would also mark a return to the public markets for GLP, which was taken private from the Singapore bourse in 2017 in a $12.6 billion deal. That transaction was led by a consortium of investors including Ming Mei, Hopu Investment, Hillhouse, Bank of China Limited, and Ping An Insurance (Group) Company of China, Ltd.. Since then, GLP has expanded its operations as a global thematic investor, managing more than $80 billion in assets across logistics real estate, digital infrastructure, and renewable energy.