Singapore Post doubled its stake in the cross-border logistics company to almost 36%, after investing an initial $12m in 2011.
Postal service Singapore Post paid approximately RMB163m ($25m) to effectively double its stake in China-based e-commerce logistics services provider 4PX Information Technology from 18% to 35.9% yesterday.
SingPost’s business logistics subsidiary Quantium Solutions International bought $17.3m of vendor shares and $7.7m of newly issued shares in the transaction.
Founded in 2004, 4PX provides cross-border logistics services for China-based e-commerce companies including warehousing, express delivery and freight forwarding, as well as software and consulting services. It has a customer base of more than 20,000 online sellers.
Kevin Li, founder and chairman of 4PX, said: “SingPost’s additional investment in 4PX will help 4PX to enhance its overseas operations.
“It will also provide China cross-border e-commerce merchants and consumers with better e-commerce logistics solutions and services, as well as propel 4PX to become the market leader in China cross-border e-commerce.”
Quantium initially invested $12m in 4PX in 2011, taking a 20% stake in the process. SingPost and 4PX have worked together since 2009.
