Hong Kong-based logistics real estate platform ESR Cayman has raised HKD12.6 billion (approximately USD1.6 billion) in its initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold approximately 752 million shares, including 280 million new shares, at HKD16.8 per share (USD2.14 per share). The platform is backed by global private equity fund manager Warburg Pincus, which was due to sell at least 389 million shares for HKD6.5 billion (USD833 million) in the offering. The offering’s cornerstone investor, Canadian pension fund OMERS, acquired 273 million shares for a total of HKD4.6 billion (USD586 million).