Alibaba, Yunfeng-Backed YTO Express Moves Closer To $2.7B Backdoor Listing

Shanghai YTO Express (Logistics) Co., Ltd., backed by Alibaba Group Holdings and Yunfeng Capital, is moving closer to an A-share listing through a reverse merger with Chinese garment maker Dalian Dayang Trands Co., Ltd. In a securities filing, Dalian Dayang Trands agreed to buy YTO Express for RMB17.5 billion (US$2.7 billion) through an asset swap […]

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Read the original article: China Money Network