Best Inc looking to ramp up delivery capability with IPO funds

Chinese delivery company Best Inc is reportedly looking to raise around $750m in an initial public offering (IPO) in New York. According to a report published by the South China Morning Post, Best – formerly known as Best Logistics Technologies – aims to use the funds to ramp up its capabilities and compete with the likes of SF Express, YTO Express, STO Express, ZTO Express and Yunda Express.

Best is backed by Alibaba, which owns the South China Morning Post.