The city has hosted two IPOs of more than $1 billion since early June and ESR Cayman Ltd. is testing investor appetite for a revived share sale of as much as $1.45 billion. The Hong Kong-based warehouse operator, which is backed by Warburg Pincus and Goldman Sachs Group Inc., delayed its IPO in June citing unfavorable market conditions. It has now increased its fundraising target from $1.24 billion. ESR is the second company to resuscitate a flotation since June, when large-scale protests started to affect Hong Kong. Budweiser Brewing Company APAC Ltd. completed a $5 billion offering last month, having shelved its sale in July amid lackluster demand. The Asian unit of Anheuser-Busch InBev NV almost halved the size of the IPO from a planned $9.8 billion . The stock has risen 15% since it started trading at the end of September.