BEST Inc. (BSTI) Plans to Raise $869 Million in September 20th IPO
BEST Inc. (BSTI) expects to raise $869 million in an initial public offering on Wednesday, September 20th, IPO Scoop reports. The company will be issuing 62,100,000 shares at a price of $13.00-$15.00 per share.
In the last twelve months, BEST Inc. generated $2 billion in revenue and had a net loss of $214.3 million. BEST Inc. has a market cap of $5.3 billion.
Citigroup, Credit Suisse, Goldman Sachs, J.P. Morgan and Deutsche Bank acted as the underwriters for the IPO and CITIC CLSA, KeyBanc Capital Markets, Oppenheimer & Co. and Stifel were co-managers.
BEST Inc. provided the following description of their company for its IPO: “Our founder, Shao-Ning Johnny Chou, started BEST in 2007 to pioneer a new business model leveraging technology to transform China’s logistics and supply chain industry. By providing our ecosystem participants with innovative integrated solutions and enhanced experiences, we maximize our long-term value proposition. We enable New Retail. We are Smart Supply Chain. New Retail is the seamless integration of online and offline retail to offer a consumer-centric, omni-channel and global shopping experience through digitization and just-in-time delivery. Our Smart Supply Chain platform enables New Retail by providing technology-enabled integrated solutions and last-mile innovation. These encompass supply chain management, express delivery, freight, merchandise sourcing, cross-border supply chain, last-mile, financial and value-added services. “.
BEST Inc. was founded in 2007 and has 9998 employees. The company is located at 2nd Floor, Block A, Huaxing Modern Industry Park, No. 18 Tangmiao Road, Xihu District, Hangzhou, Zhejiang Province 310013, People’s Republic of China and can be reached via phone at +86-571-88995656 or on the web at http://www.800best.com.
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