The company, backed by Alibaba Group, priced the 45 million American depositary shares (ADS) at the bottom of a revised range of $10 to $11 each, added IFR, a Thomson Reuters publication.

Best did not immediately reply to a Reuters request for comment on the IPO pricing.

The company had initially expected a price range of $13 to $15 per ADS and an IPO consisting of 53.56 million new shares and 8.54 million existing shares.

(Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Stephen Coates)