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1821 - ESR Cayman News Story

HK$19.2 -0.1  -0.3%

Last Trade - 9:08am

Large Cap
Market Cap £5.79bn
Enterprise Value £7.32bn
Revenue £273.1m
Position in Universe 222nd / 5988

BREAKINGVIEWS-Hong Kong IPOs get away with a protest discount

Mon 4th November, 2019 5:30am
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By Alec Macfarlane HONG KONG, Nov 4 (Reuters Breakingviews) - Warehouse owner ESR is the latest issuer to pull off a $1 bln-plus debut, despite months of anti-government demonstrations that have left investors jittery. Alibaba's plans may be back on track too. But the welcome has been tepid, and may be reserved for blue-chip sellers. Full view will be published shortly. On Twitter CONTEXT NEWS - Shares in ESR Cayman, which develops and manages warehouses for e-commerce companies, closed 5.4% above their initial public offering price on Nov. 1. ESR’s shares closed at HK$17.7, above their offer price of HK$16.8 a share, the mid-point of a marketed range. - The company, which is backed by investors including private equity firm Warburg Pincus, raised $1.6 billion in a relaunched IPO. A first attempt in June, ultimately shelved, would have raised up to $1.2 billion. - The listing follows market debuts in Hong Kong by companies including Anheuser-Busch InBev’s Asia-Pacific unit and Chinese sportswear retailer Topsports International, despite months of anti-government protests in the city. - For previous columns by the author, Reuters customers can click on MAC/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS: <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Warburg-backed ESR shares rise over 7% in Hong Kong debut after $1.6 bln IPO*:nL3N27H0GO BREAKINGVIEWS - Warehouse IPO reroutes Asian investment bank fees*:nL3N276072 BREAKINGVIEWS - Hong Kong seeks new traffic cop for wonky market*:nL3N270099 BREAKINGVIEWS - Chinese sportswear IPO races to buyout return*:nL3N26P0F9 ESR HKEX announcement ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Clara Ferreira Marques and Katrina Hamlin) ((; Reuters Messaging:
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