Shanghai parcel delivery company ZTO Express said it will sell 72.1 million shares at US$16.50 to $18.50 each, reports the Wall Street Journal.

At the top end of that range, the company would raise $1.3 billion, which may rise to $1.5 billion if an over allotment option is fully exercised.

This would exceed the $1.3 billion total raised by Japanese messaging-app operator Line in its New York and Tokyo IPO in July.

A listing on the New York Stock Exchange would also make ZTO's IPO the biggest public market debut of a Chinese company in the US since Alibaba raised $25 billion in the country in 2014.

Source:Shipping Online.cn