Global Logistic Jumps in Debut of S$3.45 Billion IPO
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Global Logistic Properties Ltd. jumped 11 percent on its first trading day after raising S$3.45 billion ($2.7 billion) in Singapore’s biggest initial public offering since 1993.
Global Logistic, the overseas logistics unit of Government of Singapore Investment Corp., advanced to S$2.17 at the close of trading from the sale price of S$1.96 a share, after earlier reaching S$2.19. The stock was sold at the top end of the range marketed to investors.