China’s ANE Logistics weighs $500 million Hong Kong IPO

Shanghai ANE Logistics Ltd., a less-than-truckload shipping operator backed by Carlyle Group Inc., is weighing a Hong Kong initial public offering that could raise about $500 million, according to people with knowledge of the matter.

The logistics firm has picked China International Capital Corp. and JPMorgan Chase & Co. to lead the first-time share sale, which could happen as soon as this year, the people said. The Shanghai-based company plans to file for the IPO by the end of March, said one of the people, who asked not to be identified as the information is private.

Deliberations for the offering are ongoing and details such as timing and size could still change, the people said. A representative for JPMorgan declined to comment, while representatives for ANE Logistics and CICC didn’t immediately respond to requests for comment.

Founded in 2010, ANE Logistics provides transportation and delivery services focused on smaller cargos. The company has more than 140 allocating centers across China, its website shows. It also counts CDH Investments, Centurium Capital Partners, Sequoia Capital China and Warburg Pincus among its investors.

ANE Logistics earlier this month raised $300 million in a funding round led by Citic PE Funds Management Ltd., according to its statement. The latest round also drew NWS Holdings Ltd. among others.