BEST Inc. (BSTI) IPO Opens 15% Higher

Today's IPO for BEST Inc. (NYSE: BSTI) opened for trading at $11.48 after pricing 45,000,000 American Depositary Shares ("ADSs"), each representing one of its Class A ordinary shares, at US$10.00 per ADS.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC and Deutsche Bank Securities are acting as joint bookrunners of this offering and as the representatives of the underwriters.

BEST is a leading and fastest-growing Smart Supply Chain service provider in China. Its multi-sided platform combines technology, integrated logistics and supply chain, last-mile and value-added services. BEST's logistics and supply chain services encompass B2B and B2C supply chain management, express and less-than-truckload delivery, as well as cross-border supply chain management and a real-time bidding platform to source truckload capacity. BEST's last-mile services include online merchandise sourcing and store management for convenience stores and B2C services.

The company is a backed by Alibaba (NYSE: BABA).

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