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ESR Cayman plans to relaunch Hong Kong IPO

Logistics property developer ESR Cayman Ltd. plans to relaunch its IPO on the Hong Kong stock exchange three months after postponing it amid U.S.-China trade tensions and protests in the city, the South China Morning Post reported Sept. 13.

The Warburg Pincus LLC-backed company said there is no guarantee that it will proceed with the offering, the report added, citing a filing. ESR Cayman previously proposed to raise between US$1.16 billion and US$1.24 billion in the IPO before it shelved the plan.

Reuters quoted a source close to the matter as saying the company was looking to begin informal meetings with investors in early October, with plans to launch the IPO in the same month.

CLSA and Deutsche Bank are serving as joint sponsors for the IPO, according to Reuters.