The Chinese logistics firm Best Inc. has reportedly raised $450m in its US initial public offering (IPO). According to reports from Reuters and the Financial Times, this was at the low end of the company’s expectations – but it was still the biggest IPO by a Chinese firm in the US since ZTO Express’s raised $1.4bn last year.
Best, which is part-owned by Alibaba’s Jack Ma, has not commented on the coverage of its IPO.
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