Less than two months after postponing a Hong Kong IPO expected to raise up to $1.24 billion, Warburg Pincus-backed warehouse developer ESR has made a new hire for its capital markets team in an effort to support the company’s long-term growth.
The logistics specialist, which manages one of Asia Pacific’s largest logistics real estate portfolios, has appointed Chang Rui Hua as group managing director of capital markets and investor relations, according to an announcement by the company.
Chang has relocated to Hong Kong to take on the new role after completing a six-year stint at Singapore’s CapitaLand, where she served most recently as a general manager of Capital Markets, Corporate Finance and Corporate Planning for the developer’s China unit, based in Shanghai.
In her new role, Chang leads investor relations and provides insights on market developments as she drives the warehouse investment firm’s capital market activities.
At ESR, Chang reports to company co-founders Jeffrey Shen and Stuart Gibson, as well as to the group’s chief financial officer, Cho Wee Peng.
Chang is joining ESR after the company’s June cancellation of its Hong Kong IPO, which occurred mid-sale and and which forced the company to issue refunds to some early participants in the share sale.
New Appointment Integral to Growth Strategy
“As ESR continues to rapidly expand its business across Asia Pacific, capital markets and investor relations will play an even more integral part of our growth strategy,” said ESR’s group co-founder and co-chief executive officer, Jeffrey Shen.
The company said in its statement that Chang’s appointment underscores ESR’s commitment to further engaging capital markets and accelerating its investor relations efforts to support the company’s long-term growth.
“Her deep expertise in both capital markets and investor relations will be a valuable addition to the ESR team,” said Shen.
At CapitaLand China Chang had been responsible for fund raising from local and foreign institutional investors, capital markets and corporate finance deals, and strategic planning and direction.
She had previously been based in Singapore for the developer, serving as head of investor relations and capital market compliance between 2015 and 2018, and vice president in the group’s strategic project and development division.
Prior to joining the Singapore government-linked firm, Chang had worked for ten years in the financial services sector, holding senior roles at China International Capital Corporation (CICC), DBS Bank and Standard & Poor’s.
A National University of Singapore graduate with a bachelor’s degree in economics, Chang also holds a master’s degree in international public policy from University College London and is a recipient of the International Certificate of Investor Relations (ICIR).