YTO Express to list via reverse merger
YTO Express reportedly plans to go public via a 17.5bn yuan ($2.7bn) merger with the listed clothing maker, Dalian Dayang Trands. According to an article published by Reuters on Wednesday (23 March), Dalian Dayang Trands said in an exchange filing this week that it would buy YTO Express through an asset swap and share issue, resulting in a backdoor listing on the Shanghai bourse for the courier.
YTO Express, one of China’s leading carriers, is backed by Alibaba.
