SF Holding, China’s largest express delivery company, has filed for a Hong Kong second listing, reports Bloomberg. The Shenzhen-listed company, also known as SF Express, is working with Goldman Sachs Group, Huatai Securities and JPMorgan Chase & Co on the potential share sale, according to pre-listing documents published Monday in Hong Kong. The filing didn’t provide details on the fundraising size or timeline. The share sale could raise $2 billion to $3 billion, Bloomberg News reported in May, citing people familiar with the matter.
Shares of SF fell 3.1% in Monday trading, valuing the company at about RMB 218.6 billion ($29.9 billion). It is the world’s fourth-largest listed delivery services firm behind United Parcel Service, Deutsche Post AG and FedEx, according to data compiled by Bloomberg. SF shares have declined about 23% this year amid a slowing Chinese economy.
Founded in Shunde of Guangdong province in 1993, SF Express has a delivery network covering 99.7% of cities in China and spanning 208 countries and regions as of March 31, the filing shows. The company has 95 aircraft and more than 176,000 vehicles.
You must log in to post a comment.