J&T Global Express Limited (J&T Express), a global logistics service provider, has officially listed on the Main Board of the Hong Kong Stock Exchange on Friday.
J&T Express said in a statement that the public offer price was HK$ 12 ($1.53) per offer Share, with net proceeds from the global offering amounting to HK$ 3.53 billion ($450 million).
J&T Express said it plans to use the funds raised from the initial public offering (IPO) to expand its logistics network, improve existing infrastructure, and strengthen the company’s sorting and warehouse capabilities in Southeast Asia and other markets.
J&T Express will also utilize the funds to expand into new markets and diversify its service offerings as well as for research and development and technology innovations, as it seeks to deliver faster and more convenient logistics services to consumers globally.
Founded in Indonesia in 2015, J&T Express expanded rapidly into six other Southeast Asian countries before entering the Chinese market in 2020.
Leveraging the strong growth of its business in China and Southeast Asia, the company further expanded its reach into five countries in Latin America, Middle East and North Africa in 2022.
At present, J&T’s express delivery operations span 13 countries.
“Since our founding in 2015, J&T has rapidly expanded and continuously enhanced our services,” said Charles Hou, Vice President of J&T Express.
“We cherish our roots and remain committed to seamlessly connecting the world through our customer-centric approach and dedication to efficiency,” he added.
Meanwhile, J&T Express Chief Financial Officer Dylan Tey said that Hong Kong is a leading international financial center, and host to Asia’s most dynamic capital market.
He said the firm takes immense pride in listing on the Hong Kong Stock Exchange, which gathers issuers and investors from around the world.
“We will continue to work closely with our partners to lead the transformation of the global logistics industry,
“This will not only allow us to provide enhanced express delivery services to a broader clientele across more markets, but also create greater value for our investors,” he added.