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Indonesia’s J&T Express Weighing $1 Billion-Plus U.S. IPO

  • A U.S. offering by the courier could happen in fourth quarter
  • J&T Express could be valued at about $5 billion in share sale
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Photographer: Michael Nagle/Bloomberg

J&T Express, an Indonesian courier company, is considering a U.S. initial public offering that could raise more than $1 billion, according to people familiar with the matter.

The Jakarta-based company is working with advisers on the first-time share sale, which could take place as soon as the fourth quarter, the people said. An offering could value J&T Express at about $5 billion, said one of the people, who asked not to be identified as the information is private. The company is considering a new funding round after it recently raised $300 million, one of the people said.