Mon, 18/02/2013 - 10:28
Prologis has completed the initial public offering (IPO) of Nippon Prologis Reit (NPR) – a Japanese real estate investment trust – in Japan.
Prologis executives participated in a ceremonial bell ringing at the Tokyo Stock Exchange during the first day of trading for NPR.
NPR completed an IPO of 182,350 units, comprised of a domestic offering of 109,410 units (60 per cent of units outstanding) and an international placement of 72,940 units (40 per cent of units outstanding). Prologis will retain at least a 15 per cent ownership interest in NPR.
"We are very pleased with the exceptionally strong interest in NPR's initial public offering, which highlights the quality of our industry-leading team and portfolio," says Hamid Moghadam, chairman and chief executive, Prologis. "NPR provides investors with a unique investment opportunity and further positions Prologis for sustained growth in Japan."
Prologis contributed 12 Class-A properties in Japan to NPR for initial consideration of approximately JPY173bn (USD1.9bn). Inclusive of NPR's concurrent borrowings, net cash proceeds to Prologis from the sale were JPY153bn (USD1.7 bn), before the greenshoe option. Prologis intends to use the proceeds primarily for the repayment of debt and future investment in Japan.
NPR has exclusive negotiation rights for eight additional properties owned by Prologis, and will receive pipeline, operational and personnel assistance under a sponsor support agreement. In addition, wholly owned subsidiaries of Prologis will serve as NPR's property and asset managers.
Wed 05/11/2014 - 11:32
Fri 24/10/2014 - 14:01
Tue 21/10/2014 - 14:03
Fri 17/10/2014 - 06:02
Fri 21/11/2014 - 10:13
Mon 17/11/2014 - 17:37
Mon 17/11/2014 - 17:33
Fri, 19/Dec/2014 - 21:00
Fri, 19/Dec/2014 - 19:30
Fri, 19/Dec/2014 - 18:30
Fri, 19/Dec/2014 - 18:00
Fri, 19/Dec/2014 - 17:30
Fri, 19/Dec/2014 - 17:00
Sat, 20 Dec 2014 00:00:00 GMTEntry Level Financial Software Developer
Sat, 20 Dec 2014 00:00:00 GMTC#.NET Developer – Quantitative Risk, Fixed Income
Sat, 20 Dec 2014 00:00:00 GMT