Global Logistic Properties (MC0.SG) +9.7% at $2.15 vs $1.96 IPO price, just off $2.16 opening level; order book quotes suggest stock unlikely to move beyond $2.17 on upside, $2.15 downside, says Dow Jones. 

Dealer at local brokerage says “people need to see where the payouts are going to come from.” Adds, there’s some uncertainty over GLP’s short-term earnings visibility, though stock “a good bet for long term investors.”

 

GLP, plans to use IPO proceeds, potentially of $3.9 billion if overallotment option exercised, for expansion, growth in China, Japan, where it owns logistic properties. 445 million shares traded so far, around a quarter of SGX volume today.