ZTO is one of four companies that account for mor
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Posted On: 10/27/2016 7:56:12 AM
ZTO is one of four companies that account for more than half of China's huge market. It sold 72.1 million shares at $19.50 each. Trading in the shares will start Thursday.
The banks who arranged the IPO have the option to buy another 10.8 million shares, which could increase the total value of the IPO to $1.6 billion.
Chinese listings in the U.S. fell sharply last year. Just six companies went public for a total of $349 million, according to Dealogic. That compares with 14 companies in 2014 that raised a total of $29.1 billion, including Alibaba's mammoth sale.
Chinese companies wanting to IPO at home face a long wait because of bottlenecks in the approval process, so companies such as ZTO are choosing to list elsewhere. There have now been six Chinese market debuts in the U.S. this year, generating a total of $2 billion, according to Dealogic.
The biggest IPO worldwide so far this year was also by a Chinese company. Postal Savings Bank of China raised $7.4 billion in Hong Kong last month.
The banks who arranged the IPO have the option to buy another 10.8 million shares, which could increase the total value of the IPO to $1.6 billion.
Chinese listings in the U.S. fell sharply last year. Just six companies went public for a total of $349 million, according to Dealogic. That compares with 14 companies in 2014 that raised a total of $29.1 billion, including Alibaba's mammoth sale.
Chinese companies wanting to IPO at home face a long wait because of bottlenecks in the approval process, so companies such as ZTO are choosing to list elsewhere. There have now been six Chinese market debuts in the U.S. this year, generating a total of $2 billion, according to Dealogic.
The biggest IPO worldwide so far this year was also by a Chinese company. Postal Savings Bank of China raised $7.4 billion in Hong Kong last month.
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