Global Logistic Properties Ltd - Update on strategic review
- GLP recently provided an update on its strategic review of options for the group’s businesses.
- After the group’s last announcement that the Special Committee was in discussions with several shortlisted parties following its evaluation of non-binding proposals received, GLP now indicates that these parties have commenced the due diligence process.
- While the share price continues to hover near a 2-year high, we highlight GLP has emphasized that there is no assurance any transaction will materialize from this strategic review. Again, we see the risk-reward in its shares as fairly balanced at current levels.
- Maintain HOLD with an unchanged FV estimate of S$2.87.