ZTO, part of the Alibaba-affiliated Cainiao smart logistics network, intends to float in the US from autumn 2016 and is targeting between $1bn and $2bn.
ZTO Express, a China-based logistics operation backed by e-commerce group Alibaba last year, is set to raise up to $2bn in an initial public offering in the US, IFR reported today.
The company has already submitted a filing in New York requesting clearance for the IPO, in which it aims to raise between $1bn and $2bn, according to people close to the deal. It plans to float from September or October 2016.
Founded in 2002, ZTO runs a service that…
