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Alibaba-Backed Best Logistics Sets For $1 Billion U.S. IPO
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Best Logistics Technologies Ltd, a Chinese logistics company backed by Alibaba Group Holding (BABA - Free Report) , could be this year's biggest initial public offering from a Chinese company in the U.S. listings.
Founded in 2007 by Johnny Chou, the former co-president of Alphabet’s (GOOGL - Free Report) Google China, the shipping company is headquartered in Hangzhou, Alibaba’s hometown. The company offers both domestic and international delivery services to China’s online shoppers.
The company raised $760 million in 2016 with investors like Foxconn, SoftBank China Venture, Fosun International Ltd, The Wall Street Journal reported. Among them, the biggest shareholder is Alibaba, which owns a nearly 30% stake thanks to its $265 million investments, as well as a $165 million investment from its own Cainiao Network.
Best Logistics operates 400 centers in China, three warehouses in the U.S., and one in Germany. The company also looks to expand in Australia, Japan, and Thailand this year.
China’s logistics industry which supports the country’s large e-commerce market attracts investors from all over the world. ZTO Express Inc. (ZTO - Free Report) , a Shanghai-based delivery company, went public last October and raised $1.4 billion. ZTO received backing from Warburg Pincus LLC, a private U.S. firm, and Sequoia Capital China.
Best Logistics is Alibaba's defense strategy against Amazon.com (AMZN - Free Report) . The Financial Times reported the U.S.-based e-commerce giant looks to push into China’s $8 billion logistics markets. Wholesalers will be able to use Amazon Logistic+ to ship their products around the globe.
Unlike Amazon, the Chinese e-commerce giant only provides logistic information of logistic providers, warehouses and distribution centers. Alibaba doesn’t have full control of the logistics. Best Logistics will strengthen Chinese e-commerce's shipping infrastructure.
Best Logistics expects to go public in the U.S. later this year and the company plans to raise around $1 billion in the deal.
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Alibaba-Backed Best Logistics Sets For $1 Billion U.S. IPO
Best Logistics Technologies Ltd, a Chinese logistics company backed by Alibaba Group Holding (BABA - Free Report) , could be this year's biggest initial public offering from a Chinese company in the U.S. listings.
Founded in 2007 by Johnny Chou, the former co-president of Alphabet’s (GOOGL - Free Report) Google China, the shipping company is headquartered in Hangzhou, Alibaba’s hometown. The company offers both domestic and international delivery services to China’s online shoppers.
The company raised $760 million in 2016 with investors like Foxconn, SoftBank China Venture, Fosun International Ltd, The Wall Street Journal reported. Among them, the biggest shareholder is Alibaba, which owns a nearly 30% stake thanks to its $265 million investments, as well as a $165 million investment from its own Cainiao Network.
Best Logistics operates 400 centers in China, three warehouses in the U.S., and one in Germany. The company also looks to expand in Australia, Japan, and Thailand this year.
China’s logistics industry which supports the country’s large e-commerce market attracts investors from all over the world. ZTO Express Inc. (ZTO - Free Report) , a Shanghai-based delivery company, went public last October and raised $1.4 billion. ZTO received backing from Warburg Pincus LLC, a private U.S. firm, and Sequoia Capital China.
Best Logistics is Alibaba's defense strategy against Amazon.com (AMZN - Free Report) . The Financial Times reported the U.S.-based e-commerce giant looks to push into China’s $8 billion logistics markets. Wholesalers will be able to use Amazon Logistic+ to ship their products around the globe.
Unlike Amazon, the Chinese e-commerce giant only provides logistic information of logistic providers, warehouses and distribution centers. Alibaba doesn’t have full control of the logistics. Best Logistics will strengthen Chinese e-commerce's shipping infrastructure.
Best Logistics expects to go public in the U.S. later this year and the company plans to raise around $1 billion in the deal.
Stocks that Aren't in the News. Yet.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>