Hong Kong-based courier company, J&T Global Express Ltd., is preparing for a significant initial public offering (IPO) that could net the company $500 million. The IPO, if successful at this level, would surpass the recent listing of ZJLD Group Inc. on the Hong Kong stock exchange. This news comes after the company received approval from the exchange earlier this week.
J&T Global Express, which operates in 13 countries including Southeast Asia, China, and Saudi Arabia, has enlisted the services of Morgan Stanley, Bank of America Corp (NYSE: BAC )., and China International Capital Corp. to manage the IPO. The evaluation of investors' interest in this offering may commence as early as next week.
The IPO is backed by prominent entities such as Hillhouse Capital and Boyu Capital. However, details about the IPO are still under discussion and will be released upon finalization.
This development represents a significant milestone for J&T Global Express as it seeks to expand its operations and solidify its position in the global courier industry.
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