HK-listed J&T Global Express aims to raise $596 million for tech, overseas expansion
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J&T Global Express, an Indonesian courier firm, aims to raise approximately HK$4.65 billion ($596 million) through convertible bonds to fund overseas expansion and technology development. The bonds will convert into about 319.6 million new shares at an initial price of HK$14.55 per share. The company plans to list the 2026 Convertible Bonds on the Hong Kong Stock Exchange. Founded in 2015, J&T has grown to be the largest e-commerce delivery service in Southeast Asia and expanded into China by acquiring Best Inc's express delivery business in 2021.
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