Global Logistic Properties (GLP)

[shadow_walker]

Bro shadow_walker, your insightful sharing is very much appreciated. 

If I may further prod you for your valuable two cents, then can you (or anyone) comment about its current P/B right now is around 0.7, whether there is that possibility that GLP might be taken private?

If you strip out the perpetual securities and intangible assets, P/B should be closer to ~0.85.

imo, GLP is unlikely to be taken private. The mgmt is more interested to unlock the China's portfolio given their alignment of interest.

[Ben]

The Motley Fool has an article on GLP. Yes, P/B ratio, excluding intangible assets, is 0.8, which is below the annual average in each year from 2010 to 2015.

https://www.fool.sg/2016/04/05/is-global...tmarketing

[mulyc]

thanks for the further comments. today's price action is looking bad.

[touzi]

$0.06 dividend. 5 consecutive year dividend increase.

[Ben]

Trading halt with high vol and surge in price. Going to announce some good news? Temasek taking this private?

[opmi]

How market crash when private buyers find public market companies cheap?

[cyclone]

Request for Trading Halt : Pending release of Announcement.
Related to United Engineers which also requests for trading halt ?

[cyclone]

Global Logistic Properties Ltd. has begun formally reaching out to potential bidders for the $7.8 billion industrial property owner, people with knowledge of the matter said.

The Singapore-based company sent out an information letter to targeted bidders at the end of last month and has asked for first-round offers by early February, according to the people. GLP attracted interest from suitors after announcing a strategic review in December, one of the people said, asking not to be identified because the information is private.

More details in https://www.bloomberg.com/news/articles/...y-ixk0nnpw

[weijian]

Always good to stay on the less crowded side (of the trade)

Singapore Warehouse Operator Shaping Up to Be Asia's Biggest Buyout Deal
https://www.bloomberg.com/news/articles/...sia-buyout

Warehouse operator in Singapore is shaping up to be Asia’s biggest buyout deal. Three private equity groups are working on bids for Global Logistic Properties Ltd. by an early February deadline, according to people familiar with the matter. Blackstone Group LP is considering going head-to-head with a Warburg Pincus consortium and a Chinese group backed by existing GLP investors, the people said, asking not to be identified because the deliberations are confidential.

[weijian]

When the major shareholder (GIC) is ready to sell, the other insiders (Mgt and minor stake partners) are ready to pounce. A bidding war hopefully?

UPDATE ON STRATEGIC REVIEW
Global Logistic Properties Limited (the “Company”) refers to its announcements released on 1 December 2016 and 5 January 2017 (collectively, the “Previous Announcements”) in relation to the
independent strategic review of options available for its business (the “Strategic Review”). Further to the Previous Announcements, the Company wishes to update that it has received various non-binding proposals from a number of parties in connection with the Strategic Review. A special committee, consisting of four independent directors and chaired by Dr. Seek Ngee Huat, Chairman of the Board, which was constituted to oversee the Strategic Review (the “Special Committee”) will be evaluating such proposals with the assistance of its financial adviser, J.P. Morgan (S.E.A.) Limited, and its legal adviser, Allen & Gledhill LLP. The Company wishes to emphasise that no definitive transaction has been entered into by the Company with any party and there is no assurance that any transaction will materialise from such proposals or the Strategic Review. The Company will make an appropriate announcement in the event of any material developments.

The Company is mindful that the Strategic Review be undertaken independently and in the interests of all shareholders, and has undertaken measures to alleviate potential conflicts of interest. Mr Ming Z. Mei, the Chief Executive Officer and an Executive Director of the Company, has an interest in one of the parties which has submitted a non-binding proposal to the Company. At the commencement of the Strategic Review, Mr Mei had recused himself from all Board discussions and decisions relating to the Strategic Review. Mr Fang Fenglei, a Non-Executive and Non-Independent Director of the Company, has an interest in one of the parties which has submitted a non-binding proposal to the Company. At the commencement of the Strategic Review, Mr Fang had recused himself from all Board discussions and decisions relating to the Strategic Review.

http://infopub.sgx.com/FileOpen/Update_A...eID=437931