GLP

GLP: prices its J-Reit at ¥60,500, at the top of the indicative ¥59,500 – 60,500 range. The co will list its shares in Tokyo 21 Dec in the second biggest IPO in Japan in 2012, raising ~US$1.3b. 3 other Reits have listed in Tokyo this year, i) Activia Properties is up 10% since its US$1.2b IPO ii) Daiwa House REIT is up 0.6% since its US$644m IPO iii) Kenedix Residential is down 4.2% since its US$175m IPO GLP is +1.5% at $2.69.