Logistics real estate developer ESR plans to sell 653.7 million shares priced in the range of HK$16.20 and HK$17.40 $2.07 to $2.22 per share, to give the company a market capitalisation of up to $6.74 billion, according to a term sheet seen by FinanceAsia.
ESR is betting both that third-party logistics in Asia will boom and that Hong Kong’s IPO market will rebound. It is looking to raise up to $1.45 billion, which is more than the $1.24 billion for which it was originally looking.
The re-IPO could make ESR the second-largest IPO on the Hong Kong Stock Exchange this year after...
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