ZTO Express (Cayman) Inc logo

2057 - ZTO Express (Cayman) Inc News Story

HK$269.6 -2.4  -0.9%

Last Trade - 03/03/21

Sector
Industrials
Size
Large Cap
Market Cap £26.44bn
Enterprise Value £24.41bn
Revenue £2.64bn
Position in Universe 61st / 6141

UPDATE 1-Chinese delivery firm ZTO Express up 9% in Hong Kong debut

Tue 29th September, 2020 4:06am
(Adds share price update)
    HONG KONG, Sept 29 (Reuters) - Shares of Chinese delivery
firm ZTO Express (Cayman) Inc  2057.HK  were trading nearly 9%
above their offer price as the stock debuted in Hong Kong on
Tuesday.
    The New York-listed firm  ZTO.N  sold 45 million shares in
its secondary listing in the city, raising $1.27 billion to
build more sorting hubs, expand capacity, strengthen network
stability and competitiveness.
    The firm priced its shares at HK$218 each when the
institutional bookbuild was finalised last week.
    Shares of ZTO Express opened at HK$244 each, up 11.9% from
the offer price, before softening slightly during the morning
session to HK$237.60, but still up 9%.
    There have been 10 secondary listings in Hong Kong in 2020
that have raised $15.1 billion, according to Refinitiv.
    

 (Reporting by Scott Murdoch and Donny Kwok; Editing by
Jacqueline Wong and Clarence Fernandez)
 ((Scott.Murdoch@thomsonreuters.com;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.