J&T Express Aims for US$2 Bln in Hong Kong IPO

By Editorial Team 20/02/2023
J&T Express global expansion
Summary

After canceling its planned listing on Wall Street, logistics company J&T Express is set to hold an initial public offering (IPO) in Hong Kong in the second half of 2023, targeting to raise US$2 billion, according to a Forbes report on Feb 18. J&T Express had planned an IPO in 2022, but it was postponed due to market volatility. The company plans to sell ten percent of its shares to the public in the upcoming IPO.

J&T Express has yet to respond to the news. If the IPO proceeds, it will be one of the largest listings on the Hong Kong Stock Exchange this year. Although J&T Express is considering the possibility of a dual listing on a US exchange after the Hong Kong IPO, no decision has been made. The largest IPO in Hong Kong was China Tourism Group Duty-Free Corporation, raising US$2.1 billion in Aug 2022.

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