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S.F. Holding, Chinese rival to Fedex, to spin off US$786 million of logistics assets in Hong Kong REIT listing plan
Shenzhen-listed S.F. Holding submitted a Hong Kong listing application for the REIT unit on April 23, according to filing
Assets to be sold to REIT unit at a slight discount based on proposed offering price of REIT units, may be adjusted based on approved terms
Shenzhen-based express carrier, SF Express, is partnering with Pipistrel Aircraft and its UAV software engineering affiliate Amazilia Aerospace to develop an unmanned vertical takeoff and landing (VTOL) cargo drone. As regulatory frameworks for managing cargo drones begin to mature, integrators are increasingly looking to VTOLs for the middle-mile and last-mile transportation. Slovenia-based Pipistrel will design […]
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(Bloomberg) SF Holding Co., one of the largest Chinese package-delivery services, is seeking to acquire control of tycoon Robert Kuok’s Kerry Logistics Network Ltd. in a HK$17.6 billion ($2.3 billion) deal for its global expansion.The Chinese courier plans to buy a 51.8% stake in Hong Kong-listed Kerry Logistics at HK$18.8 per share, according to a joint statement to the Hong Kong stock exchange on Wednesday. Bloomberg News reported last week that SF Holding was exploring a potential investment in the company.Kerry Logistics also plans to sell some warehouse assets for HK$13.5 billion and its Taiwan business for NT$4.5 billion ($161 million) to its parent company, the statement said. Kerry Logistics proposes a special dividend of HK$7.28 per share conditional on the completion of the warehouses sale. Shareholders who accept the SF’s offer will receive HK$26.08 including the special dividend, representing an 11% premium to the last closing price.Kuok, who is Malaysia
This article originally appeared in CFC Insights. Driven by a surge in business to consumer e-commerce growth, both international and domestic air express posted record growth in 2020. That sounds a bit like 2019. 2021 also looks to be strong, but after years of declining package yields the focus must shift to revenue quality as […]