Nippon Prologis Placement
Nippon Prologis Reit (3283 JP) is looking to raise around US$265m in its global follow-on offering to acquire three logistics properties.We have covered a number of past placements in the name, most of which have done well.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
We have covered the REIT's past placements in:
Nippon Prologis REIT Placement: DPU Accretive Despite Lower NOI Yield than past Deals in Jan 20
Nippon Prologis REIT Placement - About Time for a Placement in June 2019
Nippon Prologis REIT Placement - Compares Well with Prior Placements in Feb 2018
Nippon Prologis Placement - An Accretive Deal in a Stable Market in July 2017
Nippon Prologis REIT - Second Raise This Year; Smaller Size and Lower Accretion in Dec 2016
Nippon Prologis REIT - Accretive Acquisition and Good past Deal Performance in Mar 2016
Prologis is a self-administered and self-managed real estate investment trust and is the sole general partner of Prologis, L.P. The company owns, manages and develops logistics facilities, with a focus on the consumption side of the global supply chain. Most of the company's properties in the United States are wholly owned, while its properties outside the United States are primarily held in co-investment ventures. The company has two segments: Real Estate Operations, which represents the ownership and development of operating properties, and includes land held for development and properties under development; and Strategic Capital, which represents the management of unconsolidated co-investment ventures.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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