• Cold Weather Advisory - Click for Details
    ...COLD WEATHER ADVISORY REMAINS IN EFFECT UNTIL 2 AM CST WEDNESDAY...
    Expires: January 22, 2025 @ 2:00am
    WHAT
    Very cold wind chills around 20 below.
    WHERE
    Portions of north central and northwest Illinois and east central, northeast, and southeast Iowa.
    WHEN
    Until 2 AM CST Wednesday.
    IMPACTS
    The dangerously cold wind chills as low as 20 below zero could cause frostbite on exposed skin in as little as 20 to 30 minutes. Frostbite and hypothermia will occur if unprotected skin is exposed to these temperatures.
    PRECAUTIONARY/PREPAREDNESS ACTIONS
    Use caution while traveling outside. Wear appropriate clothing, a hat, and gloves. Keep pets indoors as much as possible. Make sure outdoor animals have a warm, dry shelter, food, and unfrozen water. Make frequent checks on older family, friends, and neighbors. Ensure portable heaters are used correctly. Do not use generators or grills inside.

China courier group S.F. Holding to raise up to $792.7 million in Hong Kong listing

SHARE NOW

By Scott Murdoch

(Reuters) -China’s largest express delivery company S.F. Holding said on Tuesday it plans to raise up to HK$6.17 billion ($792.71 million) in a Hong Kong listing, the latest sign of a revival in the city’s capital markets.

The Shenzhen-listed company will issue 170 million shares in a price range of HK$32.30 to HK$36.30 per share, according to its regulatory filings.

The final price will be set on Nov. 25, and the stock is due to start trading on Nov. 27.

The courier group, known for its flagship SF Express delivery business, is regarded as China’s answer to FedEx and DHL.

The listing has attracted ten cornerstone investors, led by Oaktree Capital Management, which have subscribed for up to HK$204.8 million worth of stock, the filings showed.

The company said about 45% of the funds raised in the listing would be spent on growing its international business, especially across South-east Asia. It added it has earmarked about HK$1.1 billion for buyout activity, forming joint ventures or making minority investments in businesses.

S.F. Holding, initially filed for a Hong Kong listing in August last year. Reuters reported in May last year the company was aiming to raise between $2 billion and $3 billion.

There have been $9.1 billion worth of new listings in Hong Kong in 2024, according to Dealogic data, compared to $5.88 billion in 2023.

While well off the 2020 peak of $51.6 billion, the prospect of lower global interest rates has prompted some revival in the city’s listing market.

S.F. Holding’s Shenzhen-listed share price has risen 4.75% this year.

($1 = 7.7834 Hong Kong dollars)

(Reporting by Scott Murdoch in Sydney and Sherin Sunny in Bengaluru; Editing by Alan Barona and Sonali Paul)

Brought to you by www.srnnews.com

Submit a Comment