Long-term investor Alibaba may buy up to another $150m of shares in Best Logistics in the US in a downsized initial public offering.
Best, a China-based logistics service backed by e-commerce group Alibaba, raised $450m yesterday in an initial public offering in the US.
The company priced 45 million American depositary shares on the New York Stock Exchange at $10 each, at the foot of the $10 to $11 range it had set. Alibaba had considered buying up to $150m of shares in the IPO but did not ultimately do so.
Best provides supply chain services such as warehousing and last-mile package…
