HONG KONG (Reuters) -China’s largest express delivery company S.F. Holding Co on Monday filed an application for a second listing on the Hong Kong stock exchange, the exchange’s website showed.
The filings do not specify how much the company is looking to raise but in May Reuters reported the Shenzhen-listed company could raise $2 billion to $3 billion.
At that size, the deal would one of the largest listings in Hong Kong in more than a year as the city’s capital markets remain weak as a result of rising interest rates globally and ongoing geopolitical tension between China and the United States.
S.F, regarded as China’s answer to FedEx Corp and DHL, has chosen Goldman Sachs, Huatai Financial and JPMorgan to work on the listing, the filings showed.
The company said it would use the cash raised to fund the upgrade of its logistics services and network coverage in Asia, especially Southeast Asia.
It said it would also “selectively pursue strategic initiatives through mergers and acquisitions, strategic alliances joint ventures and other majority investments”.
(Reporting by Twinnie Siu and Meg Shen in Hong Kong and Scott Murdoch in Sydney; editing by Jacqueline Wong and Jason Neely)
