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 11-Mar-19, Reuters

Alibaba Group will take a 14 percent stake in STO Express Co Ltd through a USD693 mn deal, the e-commerce giant's fourth significant investment in a Chinese courier company.

Alibaba invests USD693 mn in Chinese courier STO Express (c) Reuters Aly Song

Image: Reuters / Aly Song

Shares in STO Express shot up when trading opened and immediately hit the upper 10 percent limit on the Shenzhen Stock Exchange. 

"This investment is a step forward in our pursuit of the goal of 24-hour-delivery anywhere in China and 72 hours globally," Alibaba said.

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