Related News
Best Inc seeks funds
Print Edition
ALIBABA-BACKED logistics firm Best Inc is seeking to raise as much as US$932 million to expand its service network.
Best Inc will use the proceeds to expand its convenience store business and logistics and supply chain, it said, adding that revenue in the 12 months ended June 30 was US$2 billion.
The company plans to sell 16.4 percent of its enlarged share capital and list on the New York Stock Exchange, according to a stock exchange filing yesterday.
A number of courier service firms including SF Holding, YTO Express and STO Express have listed on domestics stock exchanges while ZTO Express raised US$1.4 billion last year on the NYSE.
Separately, ExFresh, Yiguo’s cold chain delivery subsidiary, has teamed up with China Post Group-backed courier service firm China Postal Express & Logistics Co. The tie-up follows Alibaba’s US$300 million investment in online fresh food vendor Yiguo in early August.
China Postal Express & Logistics's Expres Mail Service will expand the number of cities for next-day delivery for Tmall fresh food to 400 to 600 by the end of this year, up from 200 now.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
