The listing of express companies is also an important way for early capital exit. According to the announcement, Ali Venture Capital and Yunfeng Venture will hold 11.09% and 6.43% shares of Yuantong Express respectively, costing 2.5 billion yuan. Based on the valuation of 17.5 billion yuan for the backdoor listing of Yuantong Express, the value of the shares held by the two Ali companies will reach 3.066 billion yuan, with a net profit of nearly 600 million yuan.
In the way of listing, backdoor has become the main means at present. Chairman Chen Dejun told China Securities Journal that choosing backdoor listing is mainly about time cost. In addition, the external shareholders were not introduced before the merger, and the shareholding structure was relatively simple. Analysis of investment bankers, under the demonstration effect of Shentong and Tantong, we can not exclude other listed companies to follow this model.
Segmented market has broad space
Express industry experts believe that the private express company's listing and financing will help large express companies to transform to comprehensive logistics providers. Generally speaking, integrated logistics includes supply chain integrators, part-load transportation, cold chain distribution, domestic and international express delivery, warehouse and distribution integration, air cargo and so on. From the international experience, the transformation of large-scale express delivery enterprises to integrated logistics providers is mainly accomplished through mergers and acquisitions. Listing is conducive to the technical transformation and upgrading of express industry. Since 2016, the express industry has entered the era of "five machines-cabinet-vehicle" (e.g. electronic waybill printer, express loading and unloading stretcher, security checker, full-cargo machine, automatic sorting machine, express intelligent self-service cabinet, Express electric vehicle). These equipments will be the new competition focus of express enterprises, and need a lot of funds. In addition, listing is conducive to improving the management system and improving the management level of express delivery enterprises.