Chinese delivery firm ZTO Express has launched an initial public offering on Monday, targeting $1.33 billion in what could be the largest US listing from a Chinese company in two years.
Indicative terms of ZTO Express’ IPO include 72.1 million American Depositary Shares being pitched at a price range of $16.5 to $18.5 each, with a standard 15% greenshoe option. Assuming the ADRs are listed on the New York Stock Exchange on October 27,...