New Stock News | It is rumored that Prolong will have the fastest IPO in Hong Kong this year with an estimated valuation of around $20 billion.

According to media reports, logistics giant GLP Pte plans to conduct its first initial public offering (IPO) in Hong Kong as soon as this year, seeking a valuation of around $20 billion. The specific size and timetable of the IPO have not been finalised. Earlier reports indicated that GLP had selected Citigroup, Deutsche Bank, Credit Suisse, and Morgan Stanley to handle its Hong Kong listing, with plans to submit an IPO application in the second quarter of this year, expecting to raise at least $1 billion. Public information shows that GLP was founded in 2009 and is headquartered in Singapore. It is an industrial services and investment company focusing on supply chain, big data, and new energy infrastructure, with assets under management of approximately $80 billion. GLP operates in 70 regions in China, investing in and managing around 450 logistics warehouses, manufacturing facilities, and research and development infrastructure. It also operates an IT load center with a capacity of approximately 1,400 megawatts (MW) and a new energy development scale of over 2 gigawatts (GW).