SF Holding Co., China’s largest express delivery company, has filed for a Hong Kong second listing.
The Shenzhen-listed company, also known as SF Express, is working with Goldman Sachs Group Inc., Huatai Securities Co. 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 218.6 billion yuan . It is the world’s fourth-largest listed delivery services firm behind United Parcel Service Inc., Deutsche Post AG and FedEx Corp., 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. SF reported net income of 8.1 billion yuan in 2022, according to the filing, a 28% increase from the year before.
The company, whose founder Wang Wei grew up in Hong Kong, went public in Shenzhen through a so-called backdoor listing in 2017. The debut propelled Wang to become the third-richest person in China at the time. He is still the country’s 17th wealthiest person with a net worth of about $11.8 billion, according to the Bloomberg Billionaires Index.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Chinese Developers Owe $137 Million to Hong Kong Property AgencySeveral Chinese developers owe more than 1 billion yuan ($137 million) in commission fees to property agency Centaline’s mainland China unit, the Hong Kong company said in a statement.
Lire la suite »
US Insurance Giant Marsh Is Said to Near $448 Million Honan DealUS insurance broker giant Marsh & McLennan Cos Inc. is nearing agreement to acquire Australian peer Honan Insurance Group Pty, according to people familiar with the matter.
Lire la suite »
Why PayPal’s stablecoin is likely to succeed where Facebook’s Libra failedThe payment giant has several factors on its side
Lire la suite »
Analysis-Why PayPal's stablecoin is likely to succeed where Facebook's Libra failedBy Hannah Lang WASHINGTON (Reuters) - PayPal's stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in ...
Lire la suite »
And that, folks, is your local news — harder to find now as Meta block pinches access on social mediaJust over two weeks ago, Meta, which owns Facebook and Instagram, began ending the availability of news on those sites in Canada in response to the Online News Act. The social media giant's move is already taking its toll on web traffic to news sites, and local media outlets aren't united on a path forward.
Lire la suite »
Car enthusiasts are competing for the loudest speaker systemFor decades, Ray Choy has spent his weekends sitting in or standing beside cars that are louder than a major rock concert, a jackhammer, or a jet engine. DB drag racing is a competition to create the loudest car stereo system. At events around the world, competitors, many of whom have ripped out their seats to make space for giant subwoofers, go toe-to-toe in knockout brackets.
Lire la suite »