ZTO to launch largest Chinese firm IPO in US since Alibaba

Delivery company ZTO Express aims to raise as much as $1.3 billion from its initial public offering (IPO), making it the biggest US IPO by a Chinese entity since that of e-commerce major Alibaba. ZTO will launch the IPO later this month. Earlier in 2014, Alibaba raised $25 billion in the biggest ever IPO in history.