2016年CRI China's ZTO Express delivers the biggest U.S. IPO of the year
时间:2019-01-19 作者:英语课 分类:2016CRI中国国际广播电台
China's ZTO Express delivers the biggest U.S. IPO of the year
Shares of ZTO Express debuted 1 on the New York Stock Exchange (NYSE) at $18.40 on Thursday morning local time, under the ticker ZTO. The price declined through the afternoon trading and ended down by 15.03% at $16.57. The company says it will sell 72.1 million shares under the deal.
Alexandre L. Ibrahim, Head of International Capital Markets with NYSE, expressed excitement over ZTO's market opening.
"We are very excited today to have ZTO to open the market here at the NYSE, this is going to be the largest US IPO this year, so we are very excited with that. And we are very excited to have over two hundred people here, and most of them coming from China, to participate in this historic event."
ZTO's initial offering had priced at $19.50 a share on Wednesday, higher than its previously 2 expected price range of $16.50 to $18.50, which values the company at more than $12 billion. Morgan Stanley and Goldman Sachs are the main underwriters.
ZTO says that it intends to use the raised capital to expand its scale, to improve its facilities and infrastructure 3, and to target at some potential strategic acquisitions in the future.
As to why ZTO has chosen to launch IPO in New York, Lai Meisong, founder 4 and Chairman of ZTO Express, explains.
"We choose to launch our IPO here in the United States because we want to develop ZTO into a world-class logistics service provider, which is actually in line with the developing target of the company. With this move, we also intend to promote our reputation and earn more trust from our potential clients and corporate 5 partners, attract more long-term quality investors 6, which will accelerate our pace for international business expansion. Also, we would like to show to our overseas counterparts the Chinese mode of express delivery, in the hope that we would introduce to the world in a better way China's express delivery industry and the Chinese market. "
Founded in 2002, the Shangbai-based logistics company has been a major player in China's fast expanding e-commerce market, delivering parcels for Alibaba and JD.com, among others. Currently, ZTO has roughly 7,700 network partners and 74 sorting hubs.
According to its IPO prospectus 7, the courier raked in some 4.2 billion yuan of revenues in the first half of 2016, a 70 percent year-on-year increase, with a profit rate of nearly 25 percent.
Chinese delivery service sector 8 is leaping forward on the back of a booming e-commerce market, with its players seeking public listing to shore up competitiveness in a vigorously contested market.
Yto Express, one of ZTO's main rivals, went public on Oct. 20 through backdoor listing, with other competitors SF Express, STO Express and Yunda Express preparing for listing.
For CRI, this is Qian Shanming from New York.
- In late 2003 a full-size SUV, the Pathfinder Armada, debuted. 2003年末,全尺寸SUV的探路者无敌舰队,推出。
- The album debuted at number two and quickly went platinum. 专辑一亮相就荣登排行榜第二名,很快就取得了白金销量。
- The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
- Let me digress for a moment and explain what had happened previously.让我岔开一会儿,解释原先发生了什么。
- We should step up the development of infrastructure for research.加强科学基础设施建设。
- We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设,发展各类群众文化。
- He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
- According to the old tradition,Romulus was the founder of Rome.按照古老的传说,罗穆卢斯是古罗马的建国者。
- This is our corporate responsibility.这是我们共同的责任。
- His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
- a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
- a cash bonanza for investors 投资者的赚钱机会
- An order form was included with the prospectus.订单附在说明书上。
- The prospectus is the most important instrument of legal document.招股说明书是上市公司信息披露制度最重要法律文件。