The largest listing in the US by a Chinese company in two years will again give investors a chance to own part of the engine of China’s ecommerce boom.
ZTO, one of a dozen express delivery companies that work closely with Alibaba, raised $1.4bn in a listing on the New York Stock Exchange on Wednesday, piggy backing on the Hangzhou-based ecommerce group’s record $25bn listing in 2014.
ZTO priced 72.1m shares at $19.50 each — above its previously indicated range of $16.50 to $18.50, according to Reuters. That gave the Shanghai-based company a market value of more than $12bn.
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