J&T Express in talks to raise $1b from Tencent, others

Details:

• While J&T Express has yet to confirm the news, a former employee of the logistics firm’s international business department reportedly said that it will establish a nationwide distribution network in Middle Eastern and Latin American markets by early next year.
• According to a separate report, J&T Express recently achieved its goal to raise US$250 million in a new round of financing following the Chinese Spring Festival.

Dive deeper:

• The reports regarding a US$1 billion raise come after sources told the Information that the Indonesia-based startup had raised US$2 billion ahead of its potential listing in the US, which pegged its valuation at around US$6 billion.
• Late last month, J&T Express was said to be considering moving its listing plans to Hong Kong.