Dear Pro member,
J&T Express’s successful trading debut on the Hong Kong Stock Exchange highlights the growing prominence of Southeast Asian logistics companies in the global market. The Indonesian logistics giant’s IPO raised over US$451M, and it plans to utilise these funds to expand its network, enhance infrastructure, and boost its sorting and warehousing capabilities.
J&T Express has made significant inroads in Southeast Asia, operating in multiple countries and serving e-commerce platforms like Shopee, Lazada, and Taobao.
The company’s decision to go public in Hong Kong, rather than the US, was influenced by regulatory challenges faced by Chinese firms listing internationally. Although predominantly an Indonesian firm, J&T Express’s strong presence in China, including acquiring Best Inc’s express delivery business, makes it well-suited to the Hong Kong market. This diversification across markets and strong growth performance, as evidenced by its 118% compound annual growth rate from 2020 to 2022, played a significant role in the success of its IPO.
However, uncertainties remain regarding the impact of regulatory changes affecting its partnership with TikTok Shop in Indonesia. Nevertheless, J&T Express’s IPO success underscores the attractiveness of logistics and e-commerce-related companies in the investment landscape, with Southeast Asia emerging as a key player in the global market.
Sainul,
Editor.
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The post Ecosystem Roundup: J&T Express raises US$451M via IPO; K-Bank buys Satang Crypto Exchange for US$103M; KIP closes US$60M SEA fund appeared first on e27.