ESR halts trading over potential take-private plan, sources say

ESR halts trading over potential take-private plan, sources say
ESR halts trading over potential take-private plan, sources say

HONG KONG – Hong Kong-listed real estate fund manager ESR Group, which halted trading in its shares on May 13, is subject to a potential take-private deal by a group of investors, three sources with knowledge of the matter said.

ESR, which is the sponsor of Singapore-listed ESR Logos Reit, said in a stock exchange filing that trading was halted pending an announcement about inside information of the company and pursuant to the Hong Kong code on takeovers and mergers.

A group led by financial investors is planning a deal to take ESR private, the sources said, cautioning that discussions were at an early stage with terms to be finalized.

ESR, which is backed by US private equity firm Warburg Pincus, declined to comment any further than its filing. The sources declined to be identified as the information was confidential.

Bloomberg reported in February a group of ESR’s shareholders was exploring options that included a privatization of the Hong Kong-listed company, citing sources familiar with the discussions.

ESR primarily engages in the management of logistics asset portfolios.

The company’s shares closed at HK$10 on Friday, the highest since March 4, reaching a market cap of US$5.4 billion (S$7.3 billion), LSEG data showed. The shares have fallen 7.4 per cent in 2024, compared with an 11 per cent increase of the benchmark Hang Seng Index. REUTERS

 
For Latest Updates Follow us on Google News
 

-

PREV How to secure the phone in Colombia? Colpatria, Falabella plans and more
NEXT Nadal returns to Roland Garros and trains, but it is not confirmed if he will play