Best Inc. IPO September 20th

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model23.com will enter a full long position of Best Inc on September 20th, 2017, the first day of the IPO

https://venturebeat.com/2017/09/07/alibaba-backed-chinese-logistics-company-best-seeks-932-million-u-s-ipo/

Best, a Chinese logistics company backed by Alibaba, is launching a U.S. IPO that is seeking as much as $932 million to fund an expansion of its logistics and supply chain network, develop new technology and open more convenience stores.
The Hangzhou-based company, led by Johnny Chou, a former Greater China president for Alphabet’s Google, plans to list on the New York stock exchange and the IPO will be equivalent to 16.4 percent of the firm’s enlarged share capital.
China is the world’s biggest logistics market, notching up $1.6 trillion in annual revenue in 2016, with demand for express delivery services expected to jump 17.9 percent annually in the six years to 2021, Best said, citing forecasts from consulting firm iResearch.
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The IPO is slated to be priced on Sept. 19 and its market debut is set for the following day.

https://www.thestreet.com/story/14196022/1/alibaba-backed-logistics-company-files-for-ipo-after-tripling-revenue-in-3-years.html

Best has experienced rapid growth as China's e-commerce market has expanded, offering opportunities to logistics companies that are able to assist in the development of infrastructure. The e-commerce industry in China is expected to grow to $5.8 trillion in 2021 from $2.8 trillion in 2016, according to global research firm iResearch.
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Alibaba founder Jack Ma recently said at the Gateway '17 conference in Detroit last week that Alibaba will so sell so much stuff by the year 2035, it will generate the equivalent in GDP to be the fifth largest economy.

http://www.scmp.com/business/companies/article/2100259/best-inc-could-become-top-delivery-firm-after-its-us-ipo

“Overall, the express delivery market in China will continue to grow, but Best is emerging to be a dark horse that will outgrow its rivals, banking on its financial strength,” said Zhao Xiaomin, an angel investor and independent researcher in China’s logistics sector.
“It is likely to make the list of the country’s top three delivery companies soon.”
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Best, founded by Johnny Chou, a former greater China president of Alphabet Inc’s Google in 2007, received US$750 million from a clutch of investors including Citic Private Equity and Goldman Sachs in its latest round of financing last September.
The company warned that its costs would continue to increase, extending its trend of losses.
Zhao expected it to make profits in 2019.

Company website: http://www.best-inc.com/en/