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GLP China’s Dollar Perps Jump by 7 Points After $1.5bn ADIA Investment Commitment
August 29, 2025
GLP China’s dollar perps rallied by ~7 points, their most in over two years after GLP secured a $1.5bn commitment from the Abu Dhabi Investment Authority (ADIA). The deal is said to mark a significant boost for GLP, which has faced skepticism amid China’s property slump and its heavy exposure to the sector. Analysts said that the funding signals renewed confidence, though uncertainties remain around the investment’s structure, timeline, and whether it involves new shares or an exit for existing investors.
ADIA will initially deploy $500mn, targeting GLP’s expansion in high-growth areas including e-commerce, AI, and sustainable energy. Analysts note that while the investment demonstrates GLP’s ability to attract global capital, questions over execution continue to remain. GLP has gradually stabilized by repaying debt and selling assets, leading to its dollar bonds recovering from more distressed levels. Meanwhile, GLP’s China unit is exploring the issuance of a local bond. Separately, GLP said earlier this week, that it had secured an investment of RMB 2.5bn ($350mn) from Zhejiang government-backed investors to expand its China data centre operations.
Its 4.5% Perp surged over 7 points to trade 64.4 cents, a four-month high.
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