SAN FRANCISCO—Prologis Inc., the leading global owner, operator and developer of industrial real estate, says Nippon Prologis REIT, Inc. (NPR) — a Japanese real estate investment trust — has successfully completed its initial public offering in Japan. Prologis executives participated in a ceremonial bell ringing at the Tokyo Stock Exchange during the first day of trading for NPR.
NPR completed an IPO of 182,350 units, comprised of a domestic offering of 109,410 units (60 percent of units outstanding) and an international placement of 72,940 units (40 percent of units outstanding). Prologis will retain at least a 15 percent ownership interest in NPR.
"We are very pleased with the exceptionally strong interest in NPR's initial public offering, which highlights the quality of our industry-leading team and portfolio," saidHamid Moghadam, chairman and CEO, Prologis. "NPR provides investors with a unique investment opportunity and further positions Prologis for sustained growth inJapan."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
