PE-backed SF Express targets A-share IPO

The company said a statement to local media that CITIC Securities, China Merchant Securities and Huatai Securities are currently advising it on a listing.

Founded in 1993, Shenzhen-based SF Express has built a nationwide logistics network, including Hong Kong, Macau and Taiwan. It has also expanded overseas and now reaches into South Korea, Singapore, Malaysia, Japan and the US.

In August 2013, a consortium comprising CITIC Capital, Suzhou-based Oriza Holdings, China Merchants Group and Jade Capital bought a 25% stake in SF Express for a reported RMB8 billion ($123 million). The company used the funding to expand its online-to-offline (O2O) business and also develop its cold chain logistics offering.

As of July 2015, the delivery firm had about 340,000 employees, 160,000 logistic vehicles and 19 self-owned freight planes.

ZTO Express, another Chinese leading logistics firm, is also looking to list and has has been slated for a $1-2 billion US IPO, according to The Wall Street Journal.

In January, Shanghai YTO Express, backed by backed by Alibaba Group and Yunfeng Capital, unveiled its plan for an A-share listing through a reverse merger with garment maker Dalian Dayang Trands. This followed a reverse merger by STO Express in December.

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• Topics
• Greater China
• IPO
• Support services
• China
• IPO
• Logistics
• CITIC Capital
• Exit