October 25, 2019 / 7:25 AM / 22 days ago

ESR Cayman increases size of Hong Kong IPO to $1.6 bln - sources

Oct 25 (Reuters) - Property investor ESR Cayman is increasing the size of its Hong Kong IPO to $1.6 billion by selling more shares, and potential investors have been told the float will be priced at the mid point of an indicated range, two sources said.

ESR, backed by private equity firm Warburg Pincus, is due to formally set the final price of the deal on Friday night in New York, according to the sources, who could not be identified because the information has not yet been made public.

The company this week relaunched what could be Hong Kong’s second-biggest IPO this year. It set a price range of HK$16.2 to HK$17.4 a share for the float. The midpoint is HK$16.8 a share. (Reporting by Scott Murdoch; Editing by Muralikumar Anantharaman)

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