China Logistics Property Holdings, which is backed by global alternative asset manager The Carlyle Group and Asia-focused private equity firm RRJ Capital, has completed an initial public offering (IPO) on the Hong Kong Stock Exchange, raising approximately HKD3.4 billion (approximately US$434 million). The company will use approximately 15 percent the proceeds of the IPO for development of additional logistics park projects, 39 percent to purchase a portion of Carlyle’s equity stake in the company, 41 percent to repay part of a credit facility from Credit Suisse Singapore and the remainder for working capital and general corporate purposes.