IPO of ESR
ESR Cayman Limited (ESR), a large APAC-focused logistics real estate platform, has announced the details of its proposed listing on the main board of the stock exchange of Hong Kong (SEHK). Of the 653,680,000 shares set for global offering, approximately 94.7% will be for international placing and the remaining approximately 5.3% are for the Hong Kong public offer.
The indicative offer price range is between HKD 16.20 and HKD 17.40 per offer share. The gross proceeds from the global offering are estimated to be approximately HKD 10,981.8 million.
Jeffrey Shen and Stuart Gibson, co-founders and Co-CEOs of ESR, said: “Our asset-light business model in a traditionally asset-heavy sector, coupled with our best-in-class management team in each market and synergistic network of the blue-chip partners across the region, enables us to build a highly scalable business and achieve strong growth and returns. We are pleased that our cornerstone investor recognises our business model. With support from our investors and our robust expansion plan, we hope to capitalise on the burgeoning market opportunities across APAC to further cement our leading position in the region.” (mw)