China Post unit plans 2011 mainland listing

State postal service, China Post, is planning to list its express and logistics unit next year in Shanghai or Shenzhen, state media reported, citing sources close to the situation. Zhang Hui, an analyst at Donghai Securities, said the listing would raise no more than US$147 million. If the plan goes ahead, China Postal Express & Logistics Corp will be the first listed express company in China. The company was established in June and has a registered capital of US$29.51 million. General manager Liu Andong said the merging of express unit EMS Corp and China Post Logistics was planned to transform China Post into a modernized post group.