Freshfields advises on secondary listing of ZTO Express on HKSE
Freshfields Bruckhaus Deringer (‘Freshfields’) has provided Hong Kong and US law advice to the underwriters of the secondary listing of shares in ZTO Express (Cayman) Inc. (‘ZTO Express’) on the Hong Kong Stock Exchange (‘HKSE’). The transactions raised gross proceeds of approximately US$1.27bn (before the exercise of the Over-allotment Option). Trading in the shares commenced today (29 September 2020).
ZTO Express is a leading express delivery company in China. It is the youngest among the scaled express delivery companies in China and the largest in scale and the most profitable among its peers, who are the express delivery service providers utilising the "network partner model" in China. As of 30 June 2020, ZTO Express’ network covers over 99.2 per cent of cities and counties in China.
The Freshfields team advising on the transaction was led by partners Teresa Ko and Richard Wang. US law advice was provided by partners Arun Balasubramanian and Michael Levitt and counsels Steven Hsu, Jeremy Barr and Brian Lewis.
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