ZTO Express, a Shanghai-based delivery company, aims to raise as much as $1.3 billion in the biggest US initial public offering by a Chinese entity since its key customer Alibaba Group Holding went public.
The company is marketing 72.1 million American depository receipts, or ADRs, for $16.50 to $18.50 apiece, according to a filing Friday. A successful sale would rank No 7 among all IPOs by Chinese companies on a US exchange, according to data compiled by Bloomberg.
Online retailer Alibaba, which uses ZTO Express to fulfil orders, raised $25 billion in 2014 in the biggest such offering on record.
ZTO Express also counts Chinese online retail giant JD.com among its customers.
The company is marketing 72.1 million American depository receipts, or ADRs, for $16.50 to $18.50 apiece, according to a filing Friday. A successful sale would rank No 7 among all IPOs by Chinese companies on a US exchange, according to data compiled by Bloomberg.
Online retailer Alibaba, which uses ZTO Express to fulfil orders, raised $25 billion in 2014 in the biggest such offering on record.
ZTO Express also counts Chinese online retail giant JD.com among its customers.
Bloomberg
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