Bold ESR returns for bigger IPO

摘要

Logistics property developer esr CAYMAN is on track to raise HK$12.7bn (US$1.61bn) from a revived Hong Kong IPO, banking on cornerstone support and better market sentiment to help a bigger deal sail through this time around. After pulling a HKS9.76bn listing attempt in June because of insufficient demand, the Warburg Pincus-backed company last Monday launched the sale of 654m shares (42.9% primary/57.1% secondary) at HK$16.20-$17.40 per share, with a 15% upsize option.