(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.
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