ZTO Express (ZTO) Prices 72.1M ADS IPO at $19.50/ADS, Above Expected Range
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ZTO Express (Cayman) Inc. (NYSE: ZTO) announced that it has priced its initial public offering of 72,100,000 American depositary shares ("ADSs") at US$19.50 per ADS for a total offering size of approximately US$1.4 billion, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents one Class A ordinary share of the Company. The ADSs will begin trading on the New York Stock Exchange ("NYSE") on October 27, 2016 under the ticker symbol "ZTO."
(NOTE: ZTO was recently looking for an IPO pricing range of $16.50 - $18.50 per share.)
The Company has granted the underwriters a 30-day option to purchase up to 10,815,000 additional ADSs.
Morgan Stanley & Co. International plc, Goldman Sachs (Asia) L.L.C., China Renaissance Securities (Hong Kong) Limited, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, and J.P. Morgan Securities LLC acted as joint bookrunners for the offering.
ZTO's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which it would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This offering is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting:
Morgan Stanley& Co. International plc Prospectus Department 180 Varick Street, 2nd Floor New York, NY 10014 United States +1 917-606-8487 firstname.lastname@example.org
Goldman, Sachs & Co. DG3/Diversified Global Graphics Group 100 Burma Road, Jersey City, NJ 07305 United States Attn: Nondi Blanks/Prospectus Dept +1 212-902-1171 email@example.com;
China Renaissance Securities (Hong Kong) Limited Unit 8107-08, Level 81 International Commerce Centre 1 Austin Road West, Kowloon, Hong Kong +852-2287-1600;
Citigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue, Edgewood, NY 11717 United States +1-800-831-9146;
Credit Suisse Securities (USA) LLC, Attention: Prospectus DepartmentOne Madison Avenue New York, NY 10010 United States+1-800-221-1037 firstname.lastname@example.org;
J.P. Morgan Securities LLCc/o Broadridge Financial Solutions 1155 Long Island Avenue, Edgewood, NY 11717 United States +1-866-803-9204
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