BRIEF: SF Holding passes HK listing hearing, IPO could raise up to $1.5 billion

Leading Chinese logistics company SF Holding Co. Ltd. (002352.SZ) passed its listing hearing at the Hong Kong Stock Exchange last week, paving the way for an IPO that could raise between $1 billion and $1.5 billion. The company plans to launch a pre-listing road show this week, with trading set to debut as soon as the end of this month.

According to information disclosed after the hearing, the company’s profit in the first half of this year totaled 4.8 billion yuan ($669 million), up 15% year-on-year. SF Holding, which is already listed on the Shenzhen Stock Exchange, previously reported its revenue rose 12.1% to 72.5 billion yuan in the third quarter, while its profit for the period rose 34.6% to 2.8 billion yuan.

SF Holding was the largest integrated logistics service provider in China and Asia based on 2023 revenue and ranks fourth in the world.

By Lau Chi Hang

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