S.F. Holding Co., China’s largest express delivery company, has filed for a secondary listing in Hong Kong to fund its expansion overseas and strengthen its network in China.

The firm, whose shares are already traded on the Shenzhen Stock Exchange, filed its listing application with the Hong Kong stock exchange Monday.

But S.F. did not disclose in its preliminary prospectus the size of its fundraising and when it will get listed.

Reuters, citing people familiar with the matter, reported in May that the company could raise up to US$3 billion in its Hong Kong share sale.

The firm, also known as SF Express, is working with Goldman Sachs, Huatai Financial and JP Morgan on the share sale, according to its filing.

Proceeds from the listing will be used for S.F.’s international expansion, including the upgrade of its logistics services and network coverage in Asia, particularly in Southeast Asia.

The company also plans to use the cash raised to further strengthen its logistics network and service offerings in China, according to the prospectus.

S.F. is the world’s fourth-largest listed delivery services firm behind United Parcel Service Inc., Deutsche Post AG and FedEx Corp., according to data compiled by Bloomberg.

Founded in 1993 in the city of Shunde in Guangdong, the delivery giant has built a robust delivery network that covers 99.7% of cities in China and spans 208 countries and regions worldwide as of March 31, the filing shows. The company has a fleet of 95 aircraft and more than 176,000 vehicles to help facilitate efficient deliveries across its extensive network.

The prospectus shows that S.F. derived the lion’s share of its revenue — almost 80% of its 267.5 billion yuan (US$36.9 billion) in sales — from the Chinese mainland in 2022. The company’s net income grew 28% year on year to 8.1 billion yuan last year.

Based on its 2022 revenue, S.F. has solidified its position as the largest integrated logistics service provider in Asia.

“Looking ahead, we aim to become the leader in global logistics and connect Asia with the world,” the company said in its prospectus.           (Yang Yunfei)