Warburg Pincus–backed logistics real estate platform ESR has filed for an initial public offering in Hong Kong, according to a notice late Friday to the Hong Kong stock exchange.
At $1.5 billion, ESR’s IPO would be the biggest real estate stock debut on the Hong Kong exchange since Dalian Wanda’s $3.7 billion listing in 2014, according to Mingtiandi.
ESR said in its filing that it would use the proceeds of the share sale to pay down existing debt, to finance completion of projects already in its pipeline, and to further expand its footprint through mergers and acquisitions.
