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: In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled

LATEST: ByteDance, Tencent Rush to Launch Personal AI Agents After Meta’s Muse Success; Luxshare, Foxconn Among Firms Targeted in U.S. Power System Probe; CXMT Shares Suffer Biggest Drop Since July IPO; Xiaohongshu Pushes Further Into Gaming, Anime With Bigger Festival; In Depth: What’s in the China-U.S. Tariff Truce, and What’s Left Unsettled; AI to Drive Expansion in Cyberattacks, Industry Execs Warn; AI Boom Faces Growing Threat From Climate Change, Researcher Says; AI Boom Redraws Global Tech Map, Industry Executives Say; Chinese Phone-Makers Raise Prices of Flagship Models as Memory Costs Surge; Qualcomm China Chief Sees Country Well Placed for AI Device Race; Tencent to Shut Down QClaw Assistant in Enterprise AI Push; DJI and Insta360’s Battle for Gimbal Camera Market Comes at a Cost; From Chips to Laptops: Alibaba Accelerates Full-Stack AI Ambitions; China’s Open-Source AI Could Narrow Global Income Gap, Economist Says; Embodied AI Startup Paxini Kicks Off Mainland IPO Bid Amid Sector Volatility; Alibaba Unveils New AI Chip as Cloud Infrastructure Push Deepens; Xiaomi Steps Up AI Investment With New Models; AI Firm SiliconFlow Raises New Funds; China Seeks to Protect Minors With Proposed AI Rules; Chinese Smartphone Makers Bet on AI Agents to Revive Demand

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