Ipo Proceeds: Market and Dollars

ipo proceeds: It was the biggest US IPO by a Chinese company after the home-grown e-commerce giant Alibaba raised some 21.8 billion US dollars in 2014, according to Global Times China. Most of the IPO proceeds will be used to buy more lands, facilities, equipment and trucks, according to its prospectus. The Shanghai-based company raised some 1.4 billion US dollars and boasts a market value of over 12 billion US dollars with the stock market debut. Founded in 2002, ZTO has seen its package throughput soaring to 2.94 billion in 2015 from the 279 million in 2011, the prospectus said. Chinese delivery service sector is leaping forward on the back of a booming e-commerce market, with its players seeking public listing to shore up competitiveness in a vigorously contested market. The courier raked in some 4.2 billion yuan of revenues in the first half of 2016, a 70.8 percent year-on-year increase, with a profit rate of 24.9 percent. (news.financializer.com). As reported in the news.