Deals
China Postal Express Plans IPO to Raise $1.6 Billion
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China Postal Express & Logistics Co. plans to raise 9.98 billion yuan ($1.6 billion) in an initial public offering, to buy trucks and airplanes and build distribution centers.
The unit of state-owned China Post Group will sell as many as 4 billion yuan-denominated shares on the Shanghai stock exchange, according to a prospectus published yesterday on the China Securities Regulatory Commission website. China Postal is the nation’s biggest courier service, according to its website.