ZTO Express (ZTO) IPO Opens Lower

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ZTO Express (ZTO) Prices 72.1M ADS IPO at $19.50/ADS, Above Expected Range

October 27, 2016 6:16 AM EDT

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... More