A logo of ZTO Express is pictured in Jinan city, East China's Shandong province, on June 8, 2016. (PHOTO / IC) 

HONG KONG - Shares of Chinese delivery firm ZTO Express Inc were trading nearly 9% above their offer price as the stock debuted in Hong Kong on Tuesday.

Shares of ZTO Express opened at HK$244 each, up 11.9% from the offer price

The New York-listed firm sold 45 million shares in its secondary listing in the city, raising US$1.27 billion to build more sorting hubs, expand capacity, strengthen network stability and competitiveness.

READ MORE: ZTO Express seeks up to US$1.6 billion in HK second listing

The firm priced its shares at HK$218 each when the institutional bookbuild was finalised last week.

Shares of ZTO Express opened at HK$244 each, up 11.9% from the offer price, before softening slightly during the morning session to HK$237.60, but still up 9%.

ALSO READ: 'Homecoming' HK second listings 'raise another US$2b'

There have been 10 secondary listings in Hong Kong in 2020 that have raised US$15.1 billion, according to Refinitiv.