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Online shopping has delivered a windfall to Chinese couriers. YTO Express, a company backed by e-commerce behemoth Alibaba, will list in Shanghai at a valuation of US$2.7bil (RM10.82bil).
Alibaba-backed YTO Express plans to go public via a 17.5bil yuan (RM10.75bil) merger with a listed clothing maker, becoming the latest courier seeking capital market funds to stay competitive during China's e-commerce boom.