ZTO Express, Zai Lab wrap up HK secondary listings

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By Jonathan Breen
23 Sep 2020

Chinese logistics company ZTO Express (Cayman) and biopharmaceutical firm Zai Lab wrapped up their secondary listings in Hong Kong on Tuesday.

ZTO bagged HK$9.8bn ($1.27bn) after pricing its Hong Kong offering of 45m class A ordinary shares at HK$218 – equating to $28.13 for one of its American Depository Share (ADS). Each ADS represents one ordinary share.

The price represents a tight 1.9% discount to the Monday close ...

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