ESR makes trading debut on SEHK with 7% jump

ESR makes trading debut on SEHK with 7% jump

APAC focused logistics real estate platform ESR Cayman Limited made its trading debut Friday on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) in its second attempt.

In June, ESR had postponed its Hong Kong initial public offering(IPO) which planned to raise as much as $1.24 billion, citing unfavorable market conditions.

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Shares of ESR were actively traded Friday on SEHK and recorded satisfactory price performance, with the intra-day high at HK$18.1, 7.7% higher than the offer price of HK$16.8 per share. Closing price was HK$17.7, 5.4% higher than the offer price.

Volume was approximately 96.5 million shares traded, with total turnover reaching approximately HK$1.71 billion.

“Today marks an important milestone in ESR’s development. The successful listing testifies to our confidence and belief in the long-term growth prospects of APAC’s logistics real estate sector, and ESR’s strengths and ability to provide capital partners and tenants with access to a region of dynamic growth. We are excited that with the opening of a new chapter, ESR is well-positioned to capitalize on the booming opportunities as the region heralds an era of robust growth,” said Jeffrey Perlman, Chairman and Non-Executive Director of ESR.

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“Leveraging our fully integrated, highly scalable business model and APAC focused strategy, ESR has been able to rapidly grow our logistics real estate portfolio and platform. Today we are proud to become the largest APAC-focused platform in the industry and a publicly listed company in the world’s most dynamic capital market of Hong Kong. With the support and confidence of our shareholders and investors, ESR will strive to further consolidate our market leadership and create more value to our business and shareholders.” added effrey Shen and Stuart Gibson, Executive Directors, Co-founders and Co-CEOs of ESR.