China’s largest express delivery company SF Holding Co Ltd plans to raise up to $3 billion in a second listing in Hong Kong as soon as later this year, in what would be one of the largest public floats in the city, one source said.
The Shenzhen-listed courier group has picked Goldman Sachs Group Inc, Huatai Securities and JPMorgan Chase & Co to work on the offering which could raise $2 billion to $3 billion, said the source with direct knowledge of the matter.
The company has kicked off preparatory work for its Hong Kong listing in recent weeks and aims to file the prospectus with the Hong Kong exchange by June, the source added.
The source declined to be identified as the information is private.
SF Holding, which has a market value of 267 billion yuan ($38.63 billion), did not immediately respond to Reuters’ request for comment, neither did Goldman, Huatai and JPMorgan.
Bloomberg News on Friday first reported SF Holding’s listing plans, citing people familiar with the matter.
SF Holding, known as China’s answer to UPS rival FedEx Corp , is the dominant package delivery company in the world’s second-largest economy. It also delivers to numerous countries, including the United States and Japan.
Reuters