ZTO Express spurns huge China valuations for benefits of US listing

ZTO Express spurns huge China valuations for benefits of US listing

Workers listen to their line manager, at a sorting centre of Zhongtong (ZTO) Express, Chaoyang District, Beijing, November 8, 2015. REUTERS/Jason Lee/File Photo

Chinese logistics company ZTO Express is turning up the chance of a much more lucrative share listing at home in favor of an overseas IPO that lets its founder retain control and its investors cash out more easily.

To steal a march on its rivals in the world’s largest express delivery market, it is taking the quicker U.S. route to raise $1.3 billion for new warehouses and long-haul trucks to ride breakneck growth fueled by China’s e-commerce boom.

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