HK-listed ESR hits 8-month peak as investor group plans to take co private

ESR

14/05/2024 02:55

** Shares of real estate fund manager ESR Group  1821.HK  
jump 22.8% to HK$12.28 in resumed trade, their highest since 
Sept 7, 2023
    ** Stock, which halted trade on Monday pending co statement,
posts biggest intraday pct rise since March 2020 
    ** Stoxk is biggest pct gainer in index tracking financials
stocks  .HSCIF  and second-biggest pct gainer in the Hang Seng
Composite Index  .HSCI  
    ** ESR said it had received a non-binding, conditional
proposal from a consortium controlled by Starwood Capital Group,
Sixth Street Partners and SSW Partners that could result in a
delisting 
    ** Co said its backer, U.S. private equity firm Warburg
Pincus LLC, and ESR's founders believed the proposal was in the
best interest of ESR shareholders and were in discussions with
the consortium
    ** Hong Kong's  .HSCIF  index slips 0.2%, while Hang Seng
Composite Index climbs 0.7% and Hang Seng Index  .HSI  gains
0.5%
    ** ESR shares up 7% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))