ESR Cayman to offer 560.7 million shares in Hong Kong IPO

The firm is estimated to clinch $9.12b through the offering.

Asia Pacific-focused logistics property platform ESR Cayman revealed that of the 560.7 million shares set for global offering of its proposed listing on the mainboard of the Stock Exchange of Hong Kong (SEHK), 94.4% will be for international placing whilst the remaining are for Hong Kong public offer.

The indicative offer price range is between $16.20 and $17.40 apiece. Assuming the over-allotment option is not exercised and the offer price is $16.80 per offer share, the net proceeds from the global offering are estimated to be approximately $9.12b.

Also read: ESR Cayman delays US$1.4b Hong Kong IPO

The Hong Kong public offer will begin on 6 June and end at 12 noon on 12 June. The final offer price and allotment results will be announced on 19 June. Dealing of shares will commence on the mainboard of the SEHK on 20 June. Shares will be traded in board lots of 200 shares each.

Deutsche Securities Asia and CLSA Capital Markets are the joint sponsors of the proposed listing of ESR. Deutsche Bank AG, Hong Kong Branch, CLSA, Citigroup Global Markets Asia, Credit Suisse (Hong Kong), DBS Asia Capital and Goldman Sachs (Asia) L.L.C. are the joint global coordinators, joint bookrunners and joint lead managers of the proposed listing of ESR.

Meanwhile, BNP Paribas Securities (Asia), China International Capital Corporation Hong Kong Securities, Crédit Agricole Corporate and Investment Bank, Hong Kong branch, Mirae Asset Securities (HK) and UOB Kay Hian (Hong Kong) are the joint bookrunners and joint lead managers of the proposed listing.

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