Skadden leads as ZTO Express eyes biggest China IPO in the US since Alibaba
Chinese logistics company targets $1.5bn listing on the New York Stock Exchange
October 17, 2016 at 06:13 AM
2 minute read
Skadden Arps Slate Meagher & Flom and Kirkland & Ellis are advising on ZTO Express's initial public offering (IPO) on the New York Stock Exchange (NYSE).
The Chinese logistics company is set to list on the New York stock exchange. The IPO could raise as much as $1.5bn (£1.2bn), which would make it the largest by a Chinese company in the US since Alibaba's $25bn (£13bn) listing in 2014.
Skadden is advising ZTO on the US law aspects of the offering, while Zhong Lun is advising on Chinese law elements. Skadden Hong Kong corporate partners Julie Gao and Haiping Li are leading the firm's team.
The lead underwriters Morgan Stanley and Goldman Sachs have turned to Kirkland for US law advice, and Jun He on the Chinese law aspects. Kirkland's team is led by corporate partners David Zhang and Benjamin Su in Hong Kong, and Steve Lin in Beijing.
Offshore firm Maples and Calder is advising on the Cayman Island law parts of the offering,
The logistics giant covers 96% of China, with more than 26,000 employees.
The Alibaba IPO was led by Simpson Thacher & Bartlett, with the firm's then Hong Kong capital markets partner Leiming Chen and Beijing partner Daniel Fertig leading the team.
Sullivan & Cromwell, meanwhile, represented the underwriting banks, with then Hong Kong partner William Chua heading up the team.
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