ZTO Express Raises $1.4 Billion in Biggest U.S. IPO This Year

ZTO Express Inc., the Chinese delivery service that gets most of its business from Alibaba Holding Group Ltd., raised $1.4 billion in the biggest U.S. initial public offering this year.

ZTO sold 72.1 million American depositary shares at $19.50 apiece, according to a Wednesday statement distributed by PRNewswire, after offering them for $16.50 to $18.50 each. The ADRs will start trading Thursday on the New York Stock Exchange under the symbol ZTO.