On June 16, J&T Express submitted its prospectus to the Hong Kong inventory alternate, planning to record on the principle board. The IPO is co-sponsored by Morgan Stanley, Bank of America Securities, and CICC. According to the prospectus, the funds raised will primarily be used to develop the corporate’s logistics community, improve infrastructure, and improve sorting and warehousing capabilities and capability in Southeast Asia and different markets. J&T Express was based in Jakarta, Indonesia in August 2015 by Li Jie, the previous CEO of Chinese smartphone maker OPPO’s Indonesian unit. By November 2017, J&T Express turned the second-largest courier firm when it comes to package deal quantity in Indonesia and subsequently entered the Vietnamese and Malaysian markets. In April 2018, it expanded its enterprise to the Philippines and Thailand. After establishing a foothold in Southeast Asia, J&T Express began to determine its supply community in China in March 2020, and achieved nationwide protection by September of the identical 12 months. Currently, J&T Express operates in 13 nations, together with seven Southeast Asian nations. [Caixin, in Chinese]
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