Packages and rare earth metals make an unlikely combination but for S.F. Holdings Group, China’s largest express delivery firm, it has unlocked a backdoor Shenzhen listing via a Rmb43.3 billion $6.6 billion reverse takeover.
In a stock exchange filing on Monday, little known Maanshan Dingtai Rare Earth New Materials said it planned to take over privately run S.F. in an asset-swap transaction that will give China’s Fedex access to public capital markets at a time when competition in its field is intensifying.
S.F. Holdings's chairman Wang Wei will become the controlling shareholder of the listed unit with a near-55% stake upon completion of...
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