SHANGHAI, Sept. 16, 2020 /PRNewswire/ -- ZTO Express
(Cayman) Inc. (NYSE: ZTO) (the "Company" or "ZTO
EXPRESS"; Stock code: 2057.HK), a leading express delivery
company in China, today announced
the launch of its Hong Kong public
offering (the "Hong Kong Public Offering"), which forms part
of the global offering (the "Offering") of 45,000,000 new Class A
ordinary shares (the "Offer Shares") and listing of its Class A
ordinary shares on the Main Board of The Stock Exchange of Hong
Kong Limited (the "Hong Kong Stock Exchange") under the stock code
"2057".
The Company's American depositary shares (the "ADSs"), each
representing one Class A ordinary share of the Company, will
continue to be listed and traded on the NYSE. Investors in the
Offering will only be able to purchase Class A ordinary shares and
will not be able to take delivery of ADSs. Upon listing in
Hong Kong, the Class A ordinary
shares listed on the Hong Kong Stock Exchange will be fully
fungible with the ADSs listed on the NYSE.
"The successful listing on HKEX is a key milestone for ZTO.
Since our founding in 2002, motivated by our 'shared-success'
philosophy, ZTO has built an efficient operating platform and a
stable partner network," said Mr. Lai Meisong, Founder, Chairman
and CEO of ZTO Express. "We will continue our effort towards our
mission of 'Bringing happiness to more people through our services'
and become a world-leading comprehensive logistics service
provider."
The Offering initially comprises 2,250,000 new Offer Shares
under the Hong Kong Public Offering and 42,750,000 new Offer
Shares for the international offering (the "International
Offering"), representing approximately 5% and 95% of the total
number of Offer Shares in the Offering, respectively, subject to
re-allocation and over-allotment. Subject to the level of
oversubscription in the Hong Kong Public Offering and pursuant to
the claw back mechanism as described in the prospectus issued by
the Company in Hong Kong dated 17
September 2020, the total number of Class A ordinary shares
available under the Hong Kong Public Offering could be adjusted to
up to a maximum of 9,000,000, representing approximately 20% of the
Offer Shares initially available under the Offering. In addition,
the Company expects to grant the international underwriters an
over-allotment option to require us to issue up to an additional
6,750,000 new Class A ordinary shares in the International
Offering, representing not more than 15% of the Offer Shares
initially available under the Offering.
The offer price for the Hong Kong Public Offering (the "Hong
Kong Offer Price") will be no more than HK$268 per Class A ordinary share (the "Maximum
Offer Price"). The offer price for the International Offering
tranche of the Offering (the "International Offer Price") may be
set higher than the Maximum Offer Price. The Company is expected to set the International Offer
Price on or about 22 September
2020 Hong Kong time by taking into consideration, among other
factors, the closing price of the ADSs on the NYSE on the last
trading day on or before 22 September 2020 and investor
demand during the marketing process. The final Hong Kong Offer
Price will be set at the lower of the final International Offer
Price and the Maximum Offer Price of HK$268 per Class A ordinary share. Class A
ordinary shares will be traded in board lots of 50 Class A ordinary
shares.
The Company plans to use the net proceeds from the Offering for
infrastructure and capacity development, empowering network
partners and strengthening the network stability, investments in
logistics ecosystem and for general corporate purposes.
Fully Electronic Application Process for the Hong Kong Public
Offering
The Company has decided to adopt a fully electronic application
process for the Hong Kong Public Offering, with no printed copies
of prospectuses or application forms. A fully electronic
application process is consistent with the way in which the
Company's users and stakeholders engage and interact with each
other and the Company. The Company believes such method will also
help mitigate the environmental impact of printing and minimize the
exploitation of natural resources, among others. The prospectus is
available at the website of the Hong Kong Stock Exchange at
www.hkexnews.hk and the Company's website at
http://zto.investorroom.com/.
The Company encourages applicants for the Hong Kong Public
Offering to view its prospectus and apply online through the White
Form eIPO service at www.eipo.com.hk, or through the CCASS EIPO
service (directly or through their brokers or custodians). The Hong
Kong Public Offering will commence at 9:00
a.m. on Thursday, 17 September 2020 Hong Kong time and will close at 12:00 noon on
Tuesday, 22 September 2020 Hong
Kong time.
Potential applicants may call the
enquiry hotline of Computershare Hong Kong Investor Services
Limited if they have any questions about making applications in the
Hong Kong Public Offering. The hotline number is +852 2862 8600 and
will be open from 9:00 a.m. to 9:00 p.m. on
Thursday, 17 September 2020,
Friday, 18 September 2020, from
9:00 a.m. to 6:00 p.m. on Saturday,
19 September 2020 and Sunday,
20 September 2020, and from
9:00 a.m. to 9:00 p.m. on Monday,
21 September 2020, and from
9:00 a.m. to 12:00 noon on Tuesday,
22 September 2020 Hong Kong
time.
Goldman Sachs (Asia) L.L.C. is
the Sole Sponsor, the Sole Global Coordinator, a Joint Bookrunner
and a Joint Lead Manager for the proposed Offering.
The International Offering is being made only by means of a
preliminary prospectus supplement dated 16 September 2020 and
the accompanying prospectus included in an automatic shelf
registration statement on Form F-3 filed with the U.S. Securities
and Exchange Commission (the "SEC") on 11 September 2020,
which automatically became effective upon filing. The registration
statement on Form F-3 and the preliminary prospectus supplement are
available at the SEC website at: http://www.sec.gov.
The proposed Offering is subject to market and other conditions,
and there can be no assurance as to whether or when the Offering
may be completed, or as to the actual size or terms of the
Offering. This press release shall not constitute an offer to sell
or the solicitation of an offer or an invitation to buy any
securities of the Company, nor shall there be any offer or sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction. This press release does not constitute
a prospectus (including as defined under the laws of Hong Kong) and potential investors should read
the prospectus of the Company for detailed information about the
Company and the proposed offering, before deciding whether or not
to invest in the Company. This press release has not been reviewed
or approved by the Stock Exchange of Hong Kong Limited or the
Securities and Futures Commission of Hong
Kong.
The price of the Offer Shares of the Company may be stabilized
in accordance with the Securities and Futures (Price Stabilization)
Rules. The details of the intended stabilization and how it will be
regulated under the Securities and Futures Ordinance (Chapter 571
of the laws of Hong Kong) will be
contained in the prospectus of the Company dated 17
September 2020.
About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. is a leading express delivery
company in China. Founded in 2002,
the Company is China's
leading express delivery service provider based on total
parcel volume, with a 19.1% market share in 2019. The Company is
the youngest among the scaled express delivery companies in
China and the largest in scale and
the most profitable among the Tongda Operators, who are the express
delivery service providers utilizing the "network partner model" in
China, namely the Company, YUNDA
Holding Co., Ltd., YTO Express Group Co., Ltd., BEST Inc. and STO
Express Co., Ltd. The Company has developed one of the most
extensive and reliable delivery networks in China. As of 30 June
2020, the Company's network covers over 99.2% of cities and
counties in China. The Company has
achieved rapid growth while maintaining superior profitability and
high customer satisfactions. The Company's total parcel volume
increased from 6.2 billion in 2017 to 12.1 billion in 2019, and
from 5.4 billion in the six months ended 30
June 2019 to 7.0 billion for the six months ended
30 June 2020. The Company's net
income increased from RMB3.2 billion
in 2017 to RMB5.7 billion in
2019.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will", "expect", "anticipate", "estimate", "believe", "going
forward", "ought to", "may", "seek", "intend", "plan",
"projection", "could", "vision", "goals", "aim", "aspire",
"objective", "target", "schedules", "outlook" and similar
statements. Among other things, the description of the proposed
offering in this announcement contains forward-looking statements.
ZTO Express may also make written or oral forward-looking
statements in its periodic reports to the SEC, in its annual report
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about ZTO Express's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: ZTO Express's growth strategies; its future business
development, results of operations and financial condition; its
ability to attract and retain new customers and to increase
revenues generated from repeat customers; its expectations
regarding demand for and market acceptance of its products and
services; trends and competition in China's express delivery market; changes in
its revenues and certain cost or expense items; the expected growth
in China's express delivery
market; Chinese governmental policies relating to express industry
and general economic conditions in China. Further information regarding these and
other risks is included in ZTO Express's filings with the SEC and
the prospectus registered in Hong
Kong. All information provided in this press release and in
the attachments is as of the date of this press release, and ZTO
Express undertakes no obligation to update any forward-looking
statement, except as required under applicable law.
This press release is issued by Wonderful Sky Financial Group
Ltd. on behalf of ZTO Express (Cayman) Inc.
Contacts
Investor Relations
Tel: (86) 21 5980 4508
Email: ir@zto.com
Media
Tel: (86) 21 3108 0370
Email: media@zto.com
For further information, please contact:
Wonderful Sky Financial Group Limited
Angie Li / Rachel
Xia
Tel: (852) 3970 2273 / (852) 3970 2176
Email: angieliy@wsfg.hk / rachelxiac@wsfg.hk / po@wsfg.hk
View original
content:http://www.prnewswire.com/news-releases/zto-express-launches-hong-kong-initial-public-offering-301132159.html
SOURCE ZTO Express (Cayman) Inc.