Chinese courier company ZTO delivers year's biggest US IPO raises $1.4b

Chinese courier company ZTO delivers year's biggest US IPO raises $1.4b

Employees work at a sorting centre of Zhongtong (ZTO) Express ahead of the Singles Day shopping festival, Chaoyang District, Beijing, November 8, 2015. REUTERS/Jason Lee

Chinese package delivery company ZTO Express raised $1.4 billion in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China’s booming online-shopping industry, a source familiar with the deal said.

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