ZTO Express (Cayman) Prices IPO at $16.50-$18.50 Per Share (ZTO)
ZTO Express (Cayman) (ZTO) plans to raise $1.3 billion in an initial public offering (IPO) on Thursday, October 27th. The company plans to issue 72,100,000 shares at a price of $16.50-$18.50 per share.
In the last twelve months, ZTO Express (Cayman) generated $1.2 billion in revenue and $233.9 million in net income. ZTO Express (Cayman) has a market-cap of $128 billion.
Morgan Stanley and Goldman Sachs (Asia) served as the underwriters for the IPO and China Renaissance Securities (Hong Kong), Citigroup, Credit Suisse and J.P. Morgan Securities were co-managers.
ZTO Express (Cayman) provided the following description of their company for its IPO: “Our mission is to bring happiness to more people through our services. Through our distinctive network partner model, we are constantly creating value for numerous merchants, consumers, business partners, employees and investors. We strive to provide timely and reliable express delivery services to consumers, create jobs for employees and delivery personnel in the ZTO network, promote entrepreneurship among our business partners, and ultimately help ordinary people accomplish their goals. “.
ZTO Express (Cayman) was founded in 2009 and has 26119 employees. The company is located at Building One, No. 1685 Huazhi Road, Qingpu District, Shanghai, 201708, People’s Republic of China and can be reached via phone at +86 21 5980-4508 or on the web at https://www.zto.com.
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