ZTO nets $1.4bn with largest US float of 2016

Logistics 230 - 150
By Jonathan Breen
27 Oct 2016

Chinese logistics company ZTO Express priced its $1.4bn IPO on the New York Stock Exchange on Wednesday, marking the largest float from a Mainland firm in the US since 2014. And its successful listing is expected to boost the number of Chinese firms heading to the United States, writes Jonathan Breen.

According to ECM bankers in Hong Kong, technology-related companies from China are still a popular investment in the US.

“We have had a drought in terms of [American Depositary Shares] listings and everyone was talking about going back to the A-share market,” said an ECM syndicate banker close ...

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