PE-backed ZTO Express raises $1.4b in US IPO
Private equity-backed Chinese logistics operator ZTO Express has raised $1.4 billion in its New York Stock Exchange IPO after pricing its shares above the indicative range. It is the largest US float by a Chinese company since Alibaba Group in 2014.
The company announced it would sell 72.1 million American Depository Shares (ADS) at $19.50 apiece, having previously indicated the shares would be priced at $16.50-18.50. A further 10.82 million shares...
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