The Chinese logistics giant SF Holding (002352.SZ) plans to conduct a secondary listing in Hong Kong on November 27 and may raise about $1 billion, Bloomberg News reported, citing people familiar with the matter.
The joint sponsors are Goldman Sachs, Huatai International and JPMorgan, the report said.
According to the preliminary prospectus, the net proceeds will be used to strengthen international and cross-border logistics capabilities; upgrade and optimize the logistics network and services in China; research and develop advanced technologies and digital solutions.
The remaining proceeds will be used for working capital and general corporate purposes.