Alibaba-backed Best hopes to raise $1bn in a flotation on the New York Stock Exchange.
Best, a China-based supply chain services provider backed by e-commerce group Alibaba, yesterday revealed it hopes to raise $1bn in an initial public offering on the New York Stock Exchange.
The company will offer American depositary shares, though it has not set the pricing or number of shares yet. The $1bn figure marks an increase over the $750m the company initially hoped to secure when it first filed for an IPO in June.
Founded in 2007, Best operates a platform…
