SF Airlines (O3, Shenzhen) parent company, SF Express, is pursuing plans to go public amid reports Shenzhen-based securities firms have agreed to provide it with preliminary counselling.
No information regarding underwriters or possible dates have yet been disclosed but the firm is expected to be valued at more than CNY100 billion (USD15.3 billion).
The Hong Kong Standard reports that among the firms holding consultations with SF Express are CITIC Securities and China Merchants Securities which, together with Oriza Holdings, jointly acquired a 24.5% stake in the firm for less than CNY10 billion in 2013. The proceeds were used for expansion.
Founded in 1993 by chairman Wang Wei, SF Express has grown to become one of China's largest logistics companies operating 26 aircraft (including nine B737-300(F)s, three B737-400(F)s, fourteen B757-200PFs, and one B767-300F), 160,000 vehicles, 5,500 service centres, mostly in China, and a workforce of 346,000 people.
