SF Holding (HKG:6936, SHE:002352) on Tuesday launched its initial public offering in Hong Kong, which secured Xiaomi (HKG:1810), Sino Land (HKG:0083), and China Pacific Insurance (SHA:601601, HKG:2601) as cornerstone investors.

The Chinese express delivery company is offering 170 million H shares at HK$32.30 to HK$36.30 apiece, a deal that would raise as much as HK$6.17 billion if priced at the upper limit of the range.

The logistics service provider expects to determine the final IPO price on Nov. 25 and disclose the allocations on Nov. 26. It will then start trading on the Hong Kong bourse on Nov. 27.

SF will use the secondary listing proceeds to strengthen its international and cross-border logistics capabilities, optimize its network in China, digitize the supply chain, and boost working capital.

Shenzhen-headquartered SF lined up ten cornerstone investors, with HK$1.59 billion worth of subscriptions between them, to anchor its Hong Kong IPO.

Some of the IPO's joint book-runners are Goldman Sachs, Huatai International, and JP Morgan.