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Deepti Sri · · 1 min readSources: Indonesian logistics firm J&T Express eyes raising $1b via US listing
“J&T Express, an Indonesian courier company, is considering a US initial public offering that could raise more than US$1 billion,” Bloomberg reported, citing people familiar with the matter.
Details:
- J&T Express is in talks with advisors on a share sale as it plans on listing as early the fourth quarter of this year. The IPO could value the firm at about US$5 billion.
- The company is also considering raising a new funding round after banking US$300 million recently.
Context:
- J&T’s partners in Indonesia include big ecommerce players Tokopedia, Bukalapak, and Shopee, among others.
- In March, rival firm Sicepat raised US$170 million in its series B round from investors such as Falcon House and Kejora Capital, claiming that it was closer to attaining unicorn status.
Editing by Collin Furtado and Eileen C. Ang
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