According to sources cited by IFR, the logistics giant S.F. Holding (002352.SZ) will launch pre-IPO roadshow activities as soon as next week, with IPO fundraising potentially reduced to around $1 billion to $1.5 billion, less than the $2 billion reported last month.
S.F. Holding is expected to be the second largest IPO this year, raising funds second only to Midea Group Co., Ltd (00300.HK) listed in September.
Earlier reports indicated that S.F. Holding is set to be listed on the Hong Kong Stock Exchange on November 27. S.F. Holding previously announced on September 13 that the HKEX Listing Committee had reviewed the IPO application, but there have been no further updates so far.
On October 10, S.F. Holding announced a significant dividend plan before its Hong Kong listing, planning to implement a RMB 1.92 billion midterm dividend plan, as well as a one-time special cash dividend of approximately RMB 4.8 billion to A-share shareholders, totaling RMB 6.7 billion per share.
S.F. Holding submitted listing applications in August 2023 and June 2024, receiving the China Securities Regulatory Commission's listing confirmation letter on May 31, 2024, planning to issue up to approximately 0.625 billion shares, with Goldman Sachs, Huatai International, and JPMorgan as joint sponsors.
Founded by Mr. Wang Wei in 1993, S.F. Holding is the largest in China and Asia, the fourth largest globally comprehensive logistics service provider. It has four listed subsidiaries, namely Kerry Log Net (00636.HK), S.F. Express (09699.HK), S.F. Real Estate Investment Trust (02191.HK), and Kerry Express Thailand (KEX).
