ZTO spurns huge China valuations for benefits of US listing

October 21, 2016

October 21, 2016

HONG KONG: Chinese logistics company ZTO Express is turning up the chance of a much more lucrative share listing at home in favor of an overseas IPO that lets its founder retain control and its investors cash out more easily.

To steal a march on its rivals in the world’s largest express delivery market, it is taking the quicker U.S. route to raise US$1.3 billion for new warehouses and long-haul trucks to ride breakneck growth fueled by China’s e-commerce boom.  Read more

Source: Channel NewsAsia