SF Holding Clinches Xiaomi as Backer in Up to HK$6.2 Billion Hong Kong IPO

MT Newswires Live11-19

SF Holding (HKG:6936, SHE:002352) on Tuesday launched its initial public offering in Hong Kong, which secured Xiaomi (HKG:1810), Sino Land (HKG:0083), and China Pacific Insurance (SHA:601601, HKG:2601) as cornerstone investors.

The Chinese express delivery company is offering 170 million H shares at HK$32.30 to HK$36.30 apiece, a deal that would raise as much as HK$6.17 billion if priced at the upper limit of the range.

The logistics service provider expects to determine the final IPO price on Nov. 25 and disclose the allocations on Nov. 26. It will then start trading on the Hong Kong bourse on Nov. 27.

SF will use the secondary listing proceeds to strengthen its international and cross-border logistics capabilities, optimize its network in China, digitize the supply chain, and boost working capital.

Shenzhen-headquartered SF lined up ten cornerstone investors, with HK$1.59 billion worth of subscriptions between them, to anchor its Hong Kong IPO.

Some of the IPO's joint book-runners are Goldman Sachs, Huatai International, and JP Morgan.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment