(Bloomberg) -- ESR Cayman Ltd., a logistics real estate developer, has canceled a Hong Kong initial public offering of up to $1.24 billion, IFR reported, citing unidentified people.

The company and some of its shareholders, including Warburg Pincus and Goldman Sachs Investments Holdings (Asia) Ltd., were planning to sell 560.7 million shares at HK$16.2 to HK$17.4 apiece, according to a prospectus. A representative for ESR had no immediate comment on the IFR report.

At $1.24 billion, ESR’s share sale would have been the biggest in Hong Kong this year. The company initially targeted to start trading on June 20. Deutsche Bank AG and CLSA Ltd. are joint sponsors for the offering.

To contact the reporter on this story: Fion Li in Hong Kong at fli59@bloomberg.net

To contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Robert Fenner

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