Hive Box files for IPO

Hive Box Holdings, the operator of the world’s largest smart delivery locker network, has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange.

Hive Box Holdings has filed for an IPO on the Hong Kong Stock Exchange. File Photo

The IPO proceedings will be used to promote Hive Box’s market expansion, both in lower-tier cities in China and overseas, reinforce its out-of-home logistics capabilities, and increase investments in research and development and strategic fields, the Shenzhen-based company said in its prospectus filed Aug. 30.

Founded in 2015, Hive Box received investments from China’s four major couriers — SF Holding, Yunda Holding, STO Express, and ZTO Express —and the Chinese arm of Singaporean warehousing firm GLP.