ZTO Express (ZTO) IPO Opens Lower
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Today's IPO for ZTO Express (NYSE: ZTO) opened for trading at $18.40 after pricing its initial public offering of 72,100,000 American depositary shares at US$19.50.
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 Express Inc. is a leading express delivery company in China and one of the largest express delivery companies globally, in terms of total parcel volume in 2015, according to the iResearch Report. ZTO provides express delivery service as well as other value-added logistics services through its extensive and reliable nationwide network in China covering over 96% of China's cities and counties as of June 30, 2016.
ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in China. The Company leverages its network partners to provide pickup and last-mile delivery services, while controlling the mission-critical line-haul transportation and sorting network within the express delivery service value chain.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Notable Analyst Rating Changes 12/7: (MELI) (MMM) (AZO) Upgraded; (HELE) (MUR) (AMCX) Downgraded
- Dollar General Disappoints... Yet Again!
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
Create E-mail Alert Related CategoriesHot IPOs, IPOs
Related EntitiesCredit Suisse, JPMorgan, Goldman Sachs, Citi, Morgan Stanley, IPO
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!