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BUSINESS & TECH

Deppon Logistics Latest Major Chinese Courier to List

China’s parcel delivery services have experienced explosive growth due to the country’s e-commerce boom. In 2016, 30 billion packages were delivered in China — 23 for each of the country 1.3 billion people. Photo: IC
China’s parcel delivery services have experienced explosive growth due to the country’s e-commerce boom. In 2016, 30 billion packages were delivered in China — 23 for each of the country 1.3 billion people. Photo: IC

Deppon Logistics is set to become the latest major Chinese delivery company to conduct an initial public offering (IPO), after receiving approval from the China Securities Regulatory Commission for a planned Shanghai listing.

Deppon, one of six companies whose Chinese mainland IPO plans were given the green light Tuesday, will join a list of parcel delivery firms who have done IPOs in recent years. Rivals YTO, Shentong, ZTO, Shunda, SF Express and Best Inc. have already gone public on Chinese and overseas exchanges.

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