China Postal Express IPO approved
Source: Bloomberg News |
May 5, 2012, Saturday
|
Print Edition
Print Edition
China Postal Express and Logistics Co, the nation's biggest courier company, has won regulatory approval for an initial public offering that may be the largest in Shanghai for at least six months.
The China Securities Regulatory Commission has authorized the sale, according to a statement on its website yesterday. There were no details on when the offering will take place. China Postal Express aims to raise as much as 9.98 billion yuan (US$1.6 billion), according to a prospectus published on April 28.
The amount sought is the largest for a Shanghai IPO since Sinohydro Group Ltd raised 13.5 billion yuan in October. The dam builder has risen 1.8 percent from its 4.50 yuan offer price.
China Postal Express, a unit of state-owned China Post Group, is seeking funds for trucks and distribution centers.
The China Securities Regulatory Commission has authorized the sale, according to a statement on its website yesterday. There were no details on when the offering will take place. China Postal Express aims to raise as much as 9.98 billion yuan (US$1.6 billion), according to a prospectus published on April 28.
The amount sought is the largest for a Shanghai IPO since Sinohydro Group Ltd raised 13.5 billion yuan in October. The dam builder has risen 1.8 percent from its 4.50 yuan offer price.
China Postal Express, a unit of state-owned China Post Group, is seeking funds for trucks and distribution centers.
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