Indonesia J&T's Road to an IPO in Hong Kong

Words on J&T Express’s IPO are back in circulation as J&T Express is finally determined for their listing in the stock exchange and acquiring fresh public funding.

Asteria Desi Kartikasari

19 Jun 2023 - 22.34
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Indonesia J&T's Road to an IPO in Hong Kong

Illustration - The atmosphere of the J&T Express warehouse./Bisnis/Doc: J&T

Bisnis, JAKARTA— J&T Express's initial public offering (IPO) has resurfaced as the company prepares to list on the stock exchange and secure fresh public funding.

PT Global Jet Express, the managing company of J&T Express, has been planning its IPO in Hong Kong since 2021. In August 2021, Bloomberg sources, cited by Bisnis.com, revealed that J&T Express was considering relocating its IPO from the United States to Hong Kong.

J&T Express, with a valuation of $7.8 billion since April 2021, has attained "unicorn" status. Startups earn unicorn status when their valuation exceeds $1 billion or approximately IDR14 trillion.

The decision to move the IPO to Hong Kong was influenced by China's policy to increase supervision and impose restrictions on companies conducting IPOs overseas, particularly in the United States.

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