Deals
Indonesia’s J&T Express Eyes Shifting IPO From U.S. to Hong Kong
- Firm previously considered $1 billion U.S. listing this year
- Bank of America, CICC, Morgan Stanley working on the IPO
A J&T Express courier prepares packages for residents outside a residential community in Shijiazhuang, China.
Source: VCG/Getty Images
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J&T Express, an Indonesian courier company, is considering shifting its planned U.S. initial public offering to Hong Kong in a debut that could raise about $1 billion, according to people familiar with the matter.
The Jakarta-based company is working with Bank of America Corp., China International Capital Corp. and Morgan Stanley on the potential first-time share sale as soon as next year, the people said, asking not to be named as the matter is private.