ZTO Express IPO in the mail

Shanghai-based delivery firm opts for an IPO in the US, taking a different route from its major competitors.

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, ZTO’s IPO will be the biggest deal from a Chinese company there since Alibaba’s $25 billion IPO in September 2014.

And it will be the first of China’s five...

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