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1821 - ESR Cayman News Story

HK$19.2 -0.1  -0.3%

Last Trade - 9:08am

Sector
Financials
Size
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 https://twitter.com/AlecMac11 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: http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Warburg-backed ESR shares rise over 7% in Hong Kong debut after $1.6 bln IPO urn:newsml:reuters.com:*:nL3N27H0GO BREAKINGVIEWS - Warehouse IPO reroutes Asian investment bank fees urn:newsml:reuters.com:*:nL3N276072 BREAKINGVIEWS - Hong Kong seeks new traffic cop for wonky market urn:newsml:reuters.com:*:nL3N270099 BREAKINGVIEWS - Chinese sportswear IPO races to buyout return urn:newsml:reuters.com:*:nL3N26P0F9 ESR HKEX announcement https://www1.hkexnews.hk/listedco/listconews/sehk/2019/1031/2019103100162.htm ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Clara Ferreira Marques and Katrina Hamlin) ((alec.macfarlane@thomsonreuters.com; Reuters Messaging: alec.macfarlane.thomsonreuters.com@reuters.net))
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