SINGAPORE - Singapore's sovereign fund GIC's logistics unit is launching an initial public offering which could raise up to $3 billion (S$4 billion) with investor education to begin on Wednesday and roadshows starting September 23, a source with knowledge of the deal said.

The IPO for Global Logistic Properties (GLP), potentially the biggest ever in Singapore since Singapore Telecommunications (STEL.SI) had a S$4 billion listing in 1993, will likely be priced on October 8, the source said.

Citigroup (C.N) and JPMorgan (JPM.N) are global coordinators for the deal and also bookrunners with DBS (DBM.SI), UBS (UBSN.VX) and China International Capital Corp (CICC), sources told Reuters earlier.

The listing comes during a hectic period for Asia's primary equity market with American International Group (AIG.N) trying to list its Asian life insurance business in Hong Kong and following the massive IPO by the Agricultural Bank Of China (1288.HK) (601288.SS) of over $20 billion.