Latest news with #SFHolding
Reuters
09-07-2025
- Business
- Reuters
China's market regulator holds symposium on fair competition
BEIJING, July 9 (Reuters) - China's market regulator held a symposium on fair competition on Wednesday, with eight companies including tech firm NetEase, carmaker Great Wall Motor and express delivery company S.F. Holding in attendance. Regulators will strengthen their fair competition review, enhance antitrust supervision and enforcement, and improve the efficiency of investment and M&A reviews, the State Administration for Market Regulation said in a statement posted on its social media account.
South China Morning Post
26-06-2025
- Business
- South China Morning Post
Chinese courier SF to raise US$752 million via Hong Kong shares, convertible bonds
SF Holding, China's largest courier, announced plans on Thursday to raise more than HK$5.9 billion (US$752 million) through a new share placement on the Hong Kong exchange and the issuance of convertible bonds. Proceeds from the HK$2.9505 billion equity placement and HK$2.95 billion in zero-coupon convertible bonds would be used for the firm's international and cross-border logistics capabilities, research and development of advanced technologies and digital solutions, capital structure, and general corporate purposes, it said in a stock exchange filing. Its shares opened 3 per cent lower at HK$44.80 in Hong Kong on Thursday, while its Shenzhen shares dropped 3 per cent to 48.80 yuan at the open. The transactions represent Shenzhen-based SF's first offshore fundraising since its initial public offering in Hong Kong in November, which raised HK$5.83 billion and became a bellwether of a recent wave of mainland China-listed firms issuing Hong Kong shares, known as H shares. SF plans to place 70 million H shares at HK$42.15 each, a discount of about 8.8 per cent to the closing price of HK$46.20 on Wednesday. The additional shares represent around 29.2 per cent of the enlarged H-share capital and about 1.4 per cent of total issued shares. Meanwhile, the convertible bonds due in 2026 have an initial conversion price of HK$48.47 per share, a premium of around 4.9 per cent to Wednesday's closing price. When the stock hits the conversion price, these bonds will be converted into about 60.9 million H shares, representing about 26.4 per cent of the enlarged H-share capital and about 1.2 per cent of total issued shares.
Yahoo
26-06-2025
- Business
- Yahoo
SF Holding Launched H-share Equity Issuance and Concurrent Zero Coupon Convertible Bonds Offering
HONG KONG, June 26, 2025 /PRNewswire/ -- S.F. Holding Co., Ltd. ( 'SF Holding', 'SF' or the 'the Company') announced a USD 376 million H-share equity placement and concurrent USD 376 million offering of 363-day zero-coupon convertible bonds. Apart from improving the liquidity of H-shares for a broader base of investors, the Company intends to use the net proceeds from the transactions for strengthening its international and cross-border logistics capabilities, research and development of advanced technologies and digital solutions, enhancing its capital structure and general corporate purposes. Terms of the Equity Placement The equity placement comprises the issuance of 70,000,000 new H-shares at a placing price of HKD 42.15 per share, representing a 8.8% discount to the closing price on the Hong Kong Stock Exchange as of June 25, 2025. The equity placement will raise approximately USD 376 million in gross proceeds. Terms of the Convertible Bond Offering The convertible bonds will be issued by SF Holding Investment 2023 Limited, a wholly owned subsidiary of the Company incorporated in the British Virgin Islands. The Company will unconditionally and irrevocably guarantee the due payment of all sums expressed to be payable by the issuer under the convertible bonds. The convertible bonds to be issued are zero-coupon instruments with a maturity of 363 days, and a yield to maturity of 0.5% per annum. The initial conversion price will be HKD 48.47, representing a 15% premium over the placing price in the equity placement. Bondholders may convert all or part of their holdings into H-shares at the prevailing conversion price, at any time from (and including) the 41st day after the issue date and up to the close of business on the date falling 10 working days prior to the maturity date. Strategic Outlook The transaction is SF's first offshore issuance since its landmark 2024 Hong Kong IPO, providing investors with flexible capital in a dynamic market environment. The combined equity and short-duration convertible bond structure reflects financial discipline, considering not only enhancing liquidity but also mitigating shareholder dilution risks by the structuring of conversion terms. SF is the largest integrated logistics service provider in Asia and the fourth largest globally. Under its "The One in Asia" strategy, the Company is accelerating its global footprint through strategic network expansion and continuous upgrades to its services and solutions. It has positioned international markets as its second growth engine. In 2024, revenue from SF's supply chain and international businesses grew by 17.5% year-on-year. About SF Holding Founded in 1993, S.F. Holding Co., Ltd. ( is the largest integrated logistics service provider in Asia and the fourth largest globally. Listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, SF Holding is the constituent stock in the CSI 300 Index, MSCI Emerging Market Index and FTSE China 50 Index. Demonstrating a commitment to being fast, reliable, and customer-centric, the Company possesses digital technology to promote the development of intelligent and green supply chains. For further information, please visit View original content: SOURCE S.F. Holding Co., Ltd. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
13-05-2025
- Business
- Reuters
CATL offers banks slim fees in world's largest listing in 2025
HONG KONG, May 13 (Reuters) - Investment banks handling the world's largest listing so far this year are set to earn underwriting fees well below the industry norm, with advisers willing to endure skinny margins to win business following a prolonged slump in listings. Nine underwriters of Shenzhen-listed battery giant CATL ( opens new tab are slated to receive a maximum of HK$238.7 million, the Chinese company said in a securities filing on Monday, with much of that discretionary, based on the success of the deal. The fixed commission on what is Hong Kong's biggest listing so far this year is just 0.2% of the proceeds raised, well below the industry average. It's only a third of what home appliance manufacturer Midea ( opens new tab paid banks last year for its near $4.6 billion listing in Hong Kong, and one-fourth of the 0.8% underwriting fee awarded by China's largest express delivery company S.F. Holding ( opens new tab in its $792 million Hong Kong secondary listing last November. CATL said in the filing it may grant a 0.6% discretionary fee as an incentive. The razor-thin fees underscore challenging conditions for banks in Asia's financial hub, even as a recent surge in trading volumes and new listings has ignited hopes for a revival in large Chinese issuances. "The fee income barely covers the cost, but banks are eyeing the discretionary fees and hope securing a role will help them stay on future deals," said one source familiar with the pitching process. Banks typically get paid 2% to 2.5% of the total proceeds raised from a Hong Kong initial public offering, bankers say, however deals bigger than $500 million could compress the fee to 1%. The commission paid to CATL's underwriters would be 0.76% at its maximum. Dealogic ranks Hong Kong as one of the lowest fee-paying financial centres in the world. JPMorgan (JPM.N), opens new tab, Bank of America (BAC.N), opens new tab, China International Capital Corporation (CICC) and China Securities International are the sponsors of the CATL deal. Each of the sponsors will earn $300,000 for the role, which is around half the market average for the last five years, according to Dealogic data. International and Chinese banks have suffered a multi-year long deal slump in Hong Kong, but a recent revival in transactions has fuelled hope of a comeback for large issuances. CATL's books have been multiple times oversubscribed with strong demand from sovereign wealth and global long-only investors since its launch on Monday, according to a book message sent to investors on Tuesday and reviewed by Reuters. Some underwriters jostled to win a role in the deal, willing to accept much slimmer fees than normal thus sacrificing margins, three sources with knowledge of the pitching process told Reuters. Goldman Sachs (GS.N), opens new tab, Morgan Stanley (MS.N), opens new tab and UBS are joint global coordinators on the CATL Hong Kong listing, with BNP Paribas ( opens new tab and Guotai Junan in junior roles. However Goldman Sachs and UBS, both of which have worked on some of CATL's previous equity deals, decided not to pursue more senior roles on the new listing partly due to the low fees, said two sources familiar with the matter. Goldman and UBS declined to comment. Both banks worked on CATL's 45 billion yuan share placement in 2022 and advised the company in an attempt to raise over $5 billion in Swiss global depository receipts offering in 2023. ($1 = 7.7932 Hong Kong dollars) ($1 = $1.0000) ($1 = 7.2011 Chinese yuan)
