The parent firm of SF Express, SF Holding Co., — which is China's largest express delivery company — has applied for a secondary listing in Hong Kong to finance its overseas growth and bolster its China network.

On August 21, the company, which already has shares traded on the Shenzhen Stock Exchange, submitted its application for listing to the Hong Kong Stock Exchange.

However, it did not disclose details such as the size of its fundraising or the date of its listing in its preliminary prospectus, according to publicly available information from the Hong Kong bourse.

The filing stated that SF is collaborating with Goldman Sachs, Huatai Financial, and JP Morgan for the share sale.

Proceeds from the listing will be used for SF'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.

Citing sources familiar with the matter, Reuters reported in May that the company's Hong Kong share offering could raise up to US$3 billion.

SF ranks fourth among listed delivery services firms worldwide, trailing behind United Parcel Service Inc., Deutsche Post AG, and FedEx Corp, according to data compiled by Bloomberg.

Since its founding in 1993, the delivery giant has a network that covers 99.7% of cities in China and spans 208 countries and regions worldwide as of March. 

According to the prospectus, SF earned nearly 80% of its 267.5 billion yuan (which equals US$36.9 billion) in sales from the Chinese mainland in 2022.

The company boasts a fleet of 95 aircraft and over 176,000 vehicles throughout its network.

"Looking ahead, we aim to become the leader in global logistics and connect Asia with the world," SF said in its prospectus.