Nippon Prologis Jumps in Debut After $1 Billion IPO: Tokyo Mover
This article is for subscribers only.
Nippon Prologis REIT Inc., a real estate investment trust set up by the world’s largest owner of industrial buildings, surged 24 percent in its Tokyo trading debut amid expectations for growing demand for warehouses.
The REIT, run by San Francisco-based Prologis, rose to 682,000 yen from the initial offer price of 550,000 yen at the close of trading in Tokyo. The REIT raised 100.3 billion yen ($1 billion) through an initial public offering earlier this month, the company said.