November 14, 2012 / 11:54 PM / 5 years ago

Singapore's Global Logistic to raise $338 mln via share placement

SINGAPORE, Nov 15 (Reuters) - Singapore’s Global Logistic Properties Ltd, one of the world’s largest warehouse operators, said it will raise about S$414.4 million ($339 million) through a private placement of shares to partly fund its acquisition of Brazilian assets.

GLP said on Thursday it would issue 160 million new shares at S$2.59. Shares of GLP last traded at S$2.72 on Monday.

GLP said on Wednesday it would form joint ventures with the Canada Pension Plan Investment Board (CPPIB), China Investment Corp and Government of Singapore Investment Corp to help fund its acquisition of Brazil logistic assets worth $1.4 billion.

Shares of GLP have surged 55 percent this year, compared to the Straits Times Index’s 14 percent gain. ($1 = 1.2227 Singapore dollars) (Reporting by Charmian Kok; Editing by John Mair)

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