(Bloomberg) — ZTO Express Inc., the Chinese delivery company that handles packages for Alibaba Group Holding Ltd., aims to raise as much as $1.3 billion in a U.S. initial public offering.

The Shanghai-based company is marketing 72.1 million American depository receipts, or ADRs, for $16.50 to $18.50 apiece, according to a filing Friday. ZTO plans to use the proceeds to buy land, trucks and sorting equipment, build facilities and for general corporate purposes.

In 2015, ZTO Express delivered 2.9 billion parcels for online retail giants like Alibaba and JD.com (No. 1 in the 2016 Internet Retailer China 500). That’s up 62% from a year earlier. The 827.7 million packages it transported in the first quarter of 2016 made up 14% of all express parcels delivered in China, according to iResearch, cited in the company’s deal prospectus.

ZTO Express posted net income of $200.4 million on revenue of $915.8 million in 2015. In the first six months of this year, net income was $115.1 million on $638.8 million in revenue.

Morgan Stanley and Goldman Sachs Group Inc. are leading the offering. The company will list on the New York Stock Exchange under the symbol ZTO.