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STO Express plans backdoor listing

By Wang Ying in Shanghai | China Daily | Updated: 2015-10-24 08:10

Shanghai-based STO Express Co Ltd is set to become the nation's first listed express delivery company through a reverse merger with a shell entity, sources said.

After nearly two months of trading suspension, Shenzhen-listed IDC Fluid Control Co Ltd announced on Wednesday that it has reached an initial agreement with STO Express for a restructuring.

Reverse merger, also called backdoor listing, helps a private company float shares by injecting its assets into a publicly traded firm.

STO Express plans backdoor listing

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