Warburg-Backed ESR Shelves $1.25 Billion Hong Kong IPO

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: Baidu Weighs Spinoff of AI Chip Unit for Independent Listing; Nvidia Welcomes U.S. Nod to Sell H200 AI Chips in China; Chinese Chip Heavyweight Abandons Acquisition of Server Firm

LATEST: Chinese Chip Heavyweight Abandons Acquisition of Server Firm; Nvidia Welcomes U.S. Nod to Sell H200 AI Chips in China; Baidu Weighs Spinoff of AI Chip Unit for Independent Listing; Huawei’s Ren Downplays Chip Shortage, Touts AI for Industrial Value; China’s AI Chip Leaders Ride IPO Wave Amid Drive for Tech Self-Sufficiency; Tsing Micro Raises Over 2 Billion Yuan in State-Backed Round as China Ramps Up AI Chip Push; Synthetic Biology at Scale Could Reshape Food and Materials Systems, Expert Says; ByteDance in Talks With Smartphone Makers to Embed AI Assistant; Lenovo Executive Urges AI Startups to Take On Tech Giants; Infinigence AI Raises 500 Million Yuan to Expand Heterogeneous Computing Platform; Alibaba’s Quark Unit Launches AI Glasses Powered by Qianwen Model; Pony AI Plans to Triple Robotaxi Fleet to 3,000 by 2026 as Revenue Jumps; China’s Semiconductor Software Push Gains Traction Amid U.S. Curbs; Alibaba Scales Back Retail Spending, Dismisses AI Bubble Fears; Huawei Slashes Flagship Phone Price Amid Slowing Shipments; China’s CXMT Takes Aim at Global Leaders With High-End DDR5 Memory Chips; Alibaba’s Profit Plunges 72% on Costly Foray Into Instant Retail; Xiaomi, Founder Stem Stock Rout With $115 Million Buyback; Analysis: Soaring Legacy Chip Prices Spark Windfall — and Risk — Across Supply Chain; Alibaba, Ant Race to Catch Rivals in China’s AI App Boom

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

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.

Share this article

Open WeChat and scan the QR code