Wang Wei, chairman and founder of SF Express, speaks during the listing ceremony of the company on the Shenzhen Stock Exchange in Shenzhen city, south China's Guangdong province, 24 February 2017. SF Express, one of China's largest courier firms, ringed the bell and completed its back-door listing on the Shenzhen Stock Exchange on Friday (24 February 2017). After an asset swap that valued the express delivery giant at an estimated 44.8 billion yuan ($6.8 billion), its reverse merger partner Maanshan Dintai Rare Earth & New Materials Co will be officially renamed as SF Express, according to regulatory filings to the local bourse. The listing will make SF Express the biggest Chinese courier company by market cap, surpassing its rival ZTO Express that went public in October at New York Stock Exchange, raising $1.4 billion. The move also makes Wang Wei, SF Express's chairman and founder, worth more than 111.1 billion yuan, according to media outlet China Money Network, as he holds 64.6 percent of the merged company via an entity 99.9 percent owned by him.
