HANGZHOU, China, Oct. 20, 2017 /PRNewswire/ -- BEST Inc.
("BEST" or the "Company") (NYSE: BSTI), a leading Smart Supply Chain service provider in China,
today announced that the underwriters of its previously announced initial public offering have exercised in full their option to
purchase an additional 6,750,000 American Depositary Shares ("ADSs") from BEST and certain selling shareholders to cover
over-allotments.
Each ADS represents one Class A ordinary share of BEST and was sold to the public at the price of US$10.00 per share. BEST and the selling shareholders raised a total of approximately US$517.5 million in gross proceeds from the initial public offering, after the underwriters' exercise in full
of their option to purchase additional ADSs.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs
(Asia) L.L.C., J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are acting as joint
bookrunners of the offering and as the representatives of the underwriters.
A registration statement relating to the securities being sold in the offering has been filed with, and declared effective by,
the United States Securities and Exchange Commission.
The offering is being made only by means of a written prospectus forming part of the effective registration statement. A copy
of the final prospectus relating to the offering may be obtained by contacting the prospectus department at: (1) Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
United States, telephone: +1-800-831-9146; (2) Credit Suisse Securities (USA) LLC, Attention: Prospectus Department at Eleven Madison Avenue, New York, New
York 10010-3629, telephone: +1-800-221-1037, email: newyork.prospectus@credit-suisse.com; (3) Goldman, Sachs & Co., 200 West Street, New York, New York 10282-2198, Attention: Prospectus Department, telephone: +1 (212) 902 1171; (4) J.P.
Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, telephone: +1-866-803-9204; or (5) Deutsche Bank Securities, Attention: Prospectus Group, 60 Wall Street,
New York, NY 10005, telephone: +1-800-503-4611, email: prospectus.cpdg@db.com. Calling any of the foregoing numbers is not toll free
outside the United States.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About BEST Inc.
BEST Inc. (NYSE: BSTI) is a leading Smart Supply Chain service provider that aims to transform China's logistics and supply chain industry. BEST provides express and freight delivery, integrated supply
chain management solutions, merchandise sourcing and fulfilment services for convenience stores, and financial and other
value-added services. BEST leverages technology and business model innovation to create a smarter, more efficient supply chain
that empowers businesses and enriches the lives of consumers in the New Retail era.
Contacts
For Investors:
+852 3611 2562
ir@best-inc.com
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SOURCE BEST Inc