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Indonesia Delivery Group J&T Express Founded in 2015 to File for IPO in Hong Kong to Raise $500 Million to $1 Billion
24th June 2023 | Hong Kong
Indonesia delivery group J&T Express founded in 2015 by Jet Lee and Tony Chen, is planning to file for IPO (Initial Public Offering) in Hong Kong to raise $500 million to $1 billion. J&T Express is in 13 countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil, and Egypt. In 2021 December, J&T Express acquired China logistics firm Best for $968 million and in 2023 May, announced to buy Fengwang Information Technology (from China express delivery giant SF Express) for $167 million. In 2021, J&T Express has an estimated total revenue of $7.3 billion and net loss of $1.4 billion. J&T in Chinese means speedy rabbit (极兔速递). J&T founders Jet Lee is the former CEO of smartphone maker Oppo Indonesia, and Tony Chen Mingyong is the key person behind the setup of Oppo (CEO of Oppo). Oppo is owned by BBK Electronics, founded by China billionaire Duan Yongping.
“ Indonesia Delivery Group J&T Express Founded in 2015 to File for IPO in Hong Kong to Raise $500 Million to $1 Billion “
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J&T Express
J&T Express is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing markets in the world. Founded in 2015, J&T Express’ network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil, and Egypt.
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