Competition has crushed ZTO’s margins. With reduced forecast earnings, it trades on a valuation multiple higher than Alibaba. Proceeds from a $1.6 bln Hong Kong secondary listing will help ZTO triumph in a price war and any consolidation, says mak_robyn:
New York-listed ZTO Express, a Chinese delivery company, announced on Sept. 16 that it is planning a Hong Kong secondary listing. Based on the maximum offer price of HK$268 per share for the retail tranche, the company could raise as much as $1.
6 billion. The deal is expected to price on Sept. 22.United States Latest News, United States Headlines
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