Related News
China to have first listed delivery firm
Online Edition
CHINA will soon have its first listed express delivery company as STO Express Co. Ltd is seeking a backdoor listing, media reports said on Saturday.
Shanghai-based STO Express aims to list on the Shenzhen stock exchange through a reverse merger with a shell entity, China Daily and China Business Journal reported. Reverse merger, also called backdoor listing, helps a private company float shares by injecting its assets into a publicly traded firm.
After nearly two months of trading suspension, Shenzhen-listed IDC Fluid Control Co. Ltd. said it had reached agreement with STO Express on restructuring. For IDC Fluid Control, a manufacturer of faucets, taps and bathroom accessories based in Zhejiang province, the deal is both timely and urgent. It has received two warnings pertaining to insufficient assets from a lender it was pledged to by its actual owner Zheng Yonggang 10 months ago.
For STO Express, the listing is of vital importance in its competition with YTO Express (Logistics) Co. Ltd, as both seek to be the first listed company in the sector.
The relationship between Zheng Yonggang and Chen Dejun, STO Express chairman who was Zheng's classmate in a CEO training program in 2012, might have helped secured the deal, according to China Business Journal.
China's express delivery market has about 14,000 companies, employing nearly 6 million workers. None of the top five players -- STO Express, YTO Express, ZTO Express Co Ltd, Shanghai Yunda Express Co Ltd, and SF Express (Group) Co. -- is listed.
Despite a slowing economy, express delivery services have grown steadily. The total amount of express delivery packages has increased 8.2 times over the past six years, and about 14 billion packages were delivered across China in 2014, a year-on-year growth of 52 percent.
On average, every Chinese person received more than 10 parcels last year, and that is when only half of the country is covered by the delivery network. The rest are still relying on snail mail.
In the first half of 2015, express deliveries jumped by more than 43 percent year on year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
