PE-backed J&T Express raises $499m in Hong Kong IPO
J&T Global Express, an express delivery business that launched in Indonesia and expanded region-wide, traded flat on debut following a HKD 3.9bn (USD 499m) Hong Kong IPO.
The company – which raised nearly USD 5.4bn from investors between 2017 and 2023 – sold 326.5m shares for HKD 12.00 apiece, according to a filing. Nearly 40% of the offering was covered by nine cornerstone...
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