The Government of Singapore Investment Corp. started talks with potential corporate investors for the US$3 billion ($4 billion) initial public offering of its logistics unit, two people with knowledge of the matter said.
GIC has identified about 50 so-called cornerstone investors including real estate and hedge funds, and some international wealthy individuals, one of the people said, declining to be identified as discussions are private. The warehouse unit, called Global Logistic Properties, started pre-marketing the sale to analysts in Singapore and Hong Kong today and is expected to start trading in Singapore Oct. 15, the people said.
