Government of Singapore Investment Corp., a sovereign wealth fund with US$100 billion ($128.5 billion) of reserves, will consider selling more assets through initial public offerings, Deputy Chairman Tony Tan said.

GIC, which sold US$2.7 billion of shares in its Global Logistic Properties in October, “does own a number of assets which could be good candidates for listing if the circumstances are right and there’s a need,” Tan said at the World Economic Forum in Davos, Switzerland.

Companies raised US$5.7 billion from IPOs in Singapore last year, the most since Bloomberg started tracking the data in 1994. Global Logistic’s IPO, the biggest in the city-state since 1993 and the first of a company controlled by GIC, was priced at the top end of the range set for the sale. The stock jumped 10.7% on its first day of trading.

“At the moment we don’t have any immediate plans to list them, but these assets are ready and will be well-received by the market should we choose to list,” Tan said. He declined to say what assets might be sold.

Asia led in IPOs globally last year with 7 of the 10 largest sales worldwide, according to data compiled by Bloomberg.