[{"_1":2,"_80":-5,"_81":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_69":70,"_77":28,"_78":60,"_79":61},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":-5,"_34":35,"_36":37,"_47":48,"_62":63,"_64":65,"_66":67,"_68":32},"documentId","xwhd7e0ilnblbth5zmyc9m54","title","ZTO Express Sets Maximum Price of HK$268 Per Share For Secondary Listing","slug","zto-express-sets-maximum-price-of-hk268-per-share-for-secondary-listing","excerpt","Chinese leading express delivery company ZTO Express (Cayman) Inc. announced on Sept. 16 that it would raise as much as HK$12 billion in the secondary listing in Hong Kong.","content","\n

Chinese leading express delivery company ZTO Express (Cayman) Inc. announced on Sept. 16 that it would raise as much as HK$12 billion in the secondary listing in Hong Kong, in addition to setting a maximum price of HK$268 per share.

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The NYEX-listed delivery company seeks to sell a total of 45 million class A ordinary shares as part of a global offering, with 2.25 million shares set aside for marketing to retail investors in Hong Kong, as shown in the preliminary prospectus supplement submitted to the U.S. Securities and Exchange Commission on Sept. 16.

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With Goldman Sachs (Asia) L.L.C. acting as the the sole global coordinator for the global offering, ZTO Express plans to price the Hong Kong listing on Sept. 22 and commence trading on Sept. 29.

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ZTO Express stated in the prospectus that it bestows international underwriters with the option, exercisable by Goldman Sachs (Asia) L.L.C., to purchase up to an additional 6.75 million Class A ordinary shares at the public offering price, within the 30 days following the deadline for lodging applications under the Hong Kong public offering.

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Despite the impact of COVID-19, the revenue of ZTO Express was 6,402.4 million yuan in the second quarter of 2020, representing a year-on-year increase of 18.0%. The domestic market share of the company increased to 21.5% compared to that of last year, and the overall parcel volume rose 47.9% year-on-year to 4.6 billion items.

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The company was listed on the New York Stock Exchange on Oct. 27, 2016 under the symbol \"ZTO\", at which time it had raised US$1.4 billion.

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Tag: #secondary listing

ZTO Express Sets Maximum Price of HK$268 Per Share For Secondary Listing