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.
Bloomberg
