According to media reports, global logistics leader GSL Pte is planning an initial public offering in Hong Kong as early as this year, targeting a valuation of approximately $20 billion. The specific scale and timeline for the IPO have not yet been finalized. Previous reports indicated that GSL has selected Citigroup, Deutsche Bank, Jefferies, and Morgan Stanley to arrange its Hong Kong listing, with plans to submit the application as early as the second quarter. The IPO is expected to raise at least $1 billion. Established in 2009 and headquartered in Singapore, GSL is an industrial service and investment company focused on new infrastructure in supply chain, big data, and new energy sectors, with assets under management totaling around $80 billion. The company has invested in, developed, and managed approximately 450 logistics, warehousing, and industrial R&D facilities across 70 regional markets in China. Its data center IT load capacity is about 1,400 megawatts, and its new energy development scale exceeds 2 gigawatts.