Following SF Express's decision to pursue an IPO, so several other Chinese logistics firms have unveiled their own respective plans to go public as well.
According to CargoFacts, YTO Cargo Airlines (YG, Hangzhou) parent YTO Express is looking to enter the Shanghai stock market in a “back-door listing” through garment company Dayang Group while Shanghai-based Zhong Tong (ZTO Express) is considering listing in both the United States and Hong Kong. Thus far ZTO, which is a partner in Alibaba-backed Cainiao network, has not confirmed a date or location.
Another Shanghai-based firm, Shun Tong (STO Express), is also looking to list and may be the first of the four firms to hit the market, perhaps before the end of this year. Like YTO, STO is reportedly planning a back-door listing through Taizhou-based automotive firm, Zhejiang IDC Fluid Control.
