GLP

GLP: Leased 32,000 sqm at GLP Park SND (Suzhou) to new customer Yunda Express, one of China's largest express delivery companies, for the establishment of a sorting and distribution centre in Suzhou and Wuxi, due to the growing demand for e-commerce related services. At $2.72, GLP trades at 1.2x P/B, just under one standard deviation above its historical average of 1.1x P/B, and 12% discount to consensus RNAV of $3.03.