A Delivery Man Just Became One of the Richest People in China - Bloomberg

A Delivery Man Just Became One of the Richest People in China - Bloomberg



...Government support for the industry has also included encouraging Chinese package delivery companies to seek capital through equity markets—and approving their bids to raise money quickly, through backdoor listings that involve the companies taking over others, typically in unrelated fields, that are already publicly traded. So-called reverse mergers take a year or less to result in access to equity, while an IPO in China may take as long as three years, according to Sinolink’s Su. China’s current list of IPO seekers has 621 companies awaiting approval by the China Securities Regulatory.



...Now the courier operates a fleet of 36 cargo aircraft and about 15,000 vehicles. It reported revenue of 48.1 billion yuan in 2015, the highest among its domestic peers, according to its listing prospectus. It intends to build a cargo airport in the central Chinese province of Hubei, the prospectus said.