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Reuters
Published
Jan 15, 2016
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Dalian Dayang Trands plans to acquire YTO Express

By
Reuters
Published
Jan 15, 2016

Chinese garment-maker Dalian Dayang Trands plans to acquire courier YTO Express through an asset swap and share issue, the company said in a stock filing late on Friday.


Trading of Dalian Dayang's shares have been suspended since Jan. 5 pending an announcement. The company said in the Friday stock filing that shares would resume trading a month after Jan. 12.

Firms in China's mostly privately held express delivery sector are eyeing mergers and listings to help ease strains wrought by cut-throat competition and growing investment demands amid the country's e-commerce boom.

In December, Chinese delivery firm Shentong (STO) Express closed a 16.9 billion yuan ($2.6 billion) reverse takeover deal with a Shenzhen-traded valve maker, a fast track way of becoming the first major express parcel service to be publicly listed.

Last May, e-commerce giant Alibaba also announced a strategic investment in YTO Express, in which it took a minority stake and tightened competition within the industry.

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