PE-backed SF Express targets $6.6b Shenzhen reverse merger
China’s largest express delivery services provider SF Express, which is backed by several PE investors, is looking to list in Shenzhen through a reverse merger that values the business at RMB43.3 billion ($6.6 billion).
According to a filing, Shenzhen-listed shell company Maanshan Dingtai Rare Earth & New Materials will acquire 100% of SF Express through an asset swap and a share issue. The listed company will exchange...
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