By Julie Zhu
HONG KONG (Reuters) - ESR Cayman Ltd, backed by private equity firm Warburg Pincus, relaunched its Hong Kong IPO that aims to raise as much as $1.45 billion after the logistics real estate developer shelved a float in June, a term sheet seen by Reuters showed.
The launch of what would be Hong Kong's second biggest initial public offering (IPO) so far this year comes as companies are forging ahead with listing plans in Asia's top financial hub after a months-long freeze during frequently violent anti-government protests.
ESR, which manages a range of property-focused funds as well as its own directly held property investments, started book-building of the IPO on Monday.
It is selling about 653.7 million shares with a split of 42.9% primary shares and 57.1% secondary, totalling 21.5% of its enlarged share capital, at an indicative range of HK$16.2 to HK$17.4 ($2.07 to $2.22), the term sheet showed.
Within that range, the firm could therefore raise $1.35 billion to $1.45 billion before any over-allocation option is included. That would give the firm a market capitalisation of $6.27 billion to $6.74 billion, according to the term sheet.
ESR declined to comment.
At least seven existing shareholders are selling shares in the IPO, including Warburg Pincus, Goldman Sachs Investments Holdings (Asia) Ltd and e-commerce firm JD.com Inc's Jingdong Logistics Group Corp, the term sheet showed.
ESR has lined up $585 million from one cornerstone investor, OMERS Administration Corporation, one of Canada's largest pension funds, based on the mid-point of the price range, according to the term sheet.
The shares will be priced on Oct. 25 and trading is scheduled to start on Nov. 1.
Budweiser Brewing Company APAC Ltd raised about $5 billion last month in Hong Kong, in the city's biggest and the world's second-largest IPO so far this year.
($1 = 7.8413 Hong Kong dollars)
(Reporting by Julie Zhu; Editing by Muralikumar Anantharaman)
