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Warburg-Backed ESR Shelves $1.25 Billion Hong Kong IPO

By Wei Yiyang and Han Wei / Jun 14, 2019 03:01 AM / Finance

Photo: Bloomberg

Photo: Bloomberg

Logistics real estate developer ESR Cayman Ltd. postponed an initial public offering that could raise as much as $1.25 billion in Hong Kong, the company said Thursday, citing unfavorable market conditions.

ESR Cayman was planning to sell 560.7 million shares at HK$16.20 to HK$17.40 apiece in the biggest listing in Hong Kong so far this year. The company was scheduled to debut on the Hong Kong exchange June 20.

Major shareholders of ESR Cayman include Warburg Pincus, SK Group, JD Logistics and Goldman Sachs.


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