(Yicai Global) Aug. 21 -- State-owned China Post Group's unit EMS, the fastest delivery option of the country's largest logistics firm, has released a plan to go public within three years, while defending its competitive advantages amid tightening competition.
EMS will introduce strategic investors next year to ensure a successful initial public offering, local news outlet Securities Daily reported Liu Aili, chairman of the Beijing-based parent firm, as saying. Liu was talking yesterday at a signing ceremony to launch cooperation between China Post and China Tower, the country's major telecom infrastructure builder, while not disclosing more details about the IPO intentions.
China Post has lost part of its market share to rapidly growing private equivalents, such as SF Holding and Alibaba's courier arm Cainiao. Shanghai-based ZTO Express went public in New York in 2016 while other delivery firms such as SF Express, STO Express, YTO Express, and Yunda Express have landed IPO deals via backdoor listings.
EMS was founded in 2015 by combining assets of the parent's provincial units, which sparked the first rumors about plans to go public.
Editor: Emmi Laine