At US$1.24 billion, ESR’s share sale would be the biggest in Hong Kong this year, surpassing Chinese brokerage Shenwan Hongyuan Group Co’s US$1.16 billion April listing, according to data compiled by Bloomberg.
(June 5): ESR Cayman, a logistics real estate developer, is seeking to raise as much as US$1.24 billion ($1.7 billion) in a Hong Kong initial public offering.
The company and some shareholders, including Warburg Pincus and Goldman Sachs Investments Holdings (Asia), are selling 560.7 million shares at HK$16.2 to HK$17.4 ($2.8 to $3) apiece, according to terms for the deal obtained by Bloomberg. The price range represents a market capitalisation of US$5.6 billion to US$6 billion, the terms show.
