Shanghai Yuantong Express to go public: report

Shanghai Yuantong Express (Logistics) Co Ltd is likely to become the nation's first non-State-owned courier firm to go public, sources said.

Yuantong Express has hired an accounting company to aid its listing process, and it will become a public traded company by the end of 2015 if everything goes smoothly, the Guangzhou-based newspaper 21st Century Business Herald reported on Wednesday, citing an insider from the delivery firm.

Senior-level management staff also confirmed with the newspaper that Yuantong Express is seeking an initial public offering.

"We are making all-round preparations for an IPO," a vice-president from Yuantong Express said, adding that the preparation work started as early as 2011.

Founded in 2000, Yuantong Express has setup eight management divisions, 64 transshipment centers and more than 6,000 dispatching stations. Currently, the company has hired more than 100,000 employees, and its network covers 1,600 plus cities across the nation.