China: Alibaba-backed logistics firm Best launches $932m U.S. IPO

China: Alibaba-backed logistics firm Best launches $932m U.S. IPO

A trader works on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York December 17, 2015. REUTERS/Lucas Jackson

Best Inc, a Chinese logistics company backed by AlibabaGroup, has launched an up to $932 million initial public offering, seeking funds to expand itslogistics and supply chain network, develop new technology and open more of its convenience stores.

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