GLP-Backed China Logistics Firm Zongteng Group Weighing IPO – BNN Bloomberg

(Bloomberg) — Zongteng Group, a Chinese logistics service provider backed by GLP Pte, is weighing an initial public offering as early as next year, people with knowledge of the matter said. The Shenzhen-headquartered company has held discussions with banks about a potential IPO on the mainland or Hong Kong that could raise at least $500 million, the people said, asking not to be identified as the information is private. Zongteng Group could pursue a private funding round before an IPO, one of the people said. Deliberations are at an early stage and no final decisions have been made, the people…