HONG KONG – Shares of Chinese conveyance firm ZTO Express (Cayman) Inc 2057.HK were exchanging almost 9% over their offer cost as the stock appeared in Hong Kong on Tuesday.

The New York-recorded firm ZTO.N sold 45 million offers in its optional posting in the city, raising $1.27 billion to manufacture all the more arranging centers, grow limit, reinforce network dependability and seriousness.

The firm valued its offers at HK$218 every when the institutional bookbuild was concluded a week ago.

Portions of ZTO Express opened at HK$244 each, up 11.9% from the offer cost, before relaxing somewhat during the morning meeting to HK$237.60, yet at the same time up 9%.

There have been 10 optional postings in Hong Kong in 2020 that have raised $15.1 billion, as indicated by Refinitiv.