Best bags $450m after slashing IPO as Zai Lab goes big

Jonathan Breen

September 21, 2017 12:00 pm

NYSE_PA_230x150 — (170103) -- NEW YORK, Jan. 3, 2017 (Xinhua) -- Traders work at the New York Stock Exchange in New York, the United States, on Jan. 3, 2017. U.S. stocks rebounded Tuesday, the first trading day of 2017. The Dow Jones Industrial Average rose 119.16 points, or 0.60 percent, to 19,881.76. The S&P 500 added 19.00 points, or 0.85 percent, to 2,257.83. The Nasdaq Composite Index climbed 45.97 points, or 0.85 percent, to 5,429.08. (Xinhua/Wang Ying) (Photo by Xinhua/Sipa USA) | Xinhua/SIPA USA/PA Images

Chinese logistics firm Best, which counts Alibaba Group Holdings among its shareholders, raised $450m from its US IPO this week, chopping the deal by half to get it over the finish line.

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JB

Jonathan Breen

Equities editor GlobalCapital Asia