Alibaba Group (BABA)-backed Best Inc., a China-based logistics company, is gearing up to launch a roughly $930 million initial public offering in the U.S.
According to a report in Reuters, the company is aiming to list on the New York Stock Exchange, with proceeds going to expand its supply chain network, open more stores and to work on advanced technologies. With the IPO, Best will have a valuation of as much as $5.7 billion, reported Reuters.
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Read more: Alibaba-Backed Best Inc. to Launch $930M US IPO | Investopedia www.investopedia.com/news/...launch-930m-us-ipo/#ixzz4s5hPue7J
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