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Indonesian courier J&T aims to raise up to $1.36b in Hong Kong IPO, but may face regulatory hurdle
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The IPO prospectus says that the J&T’s Indonesian operation is controlled by foreign investors, according to a local business group.
PHOTO: J&T EXPRESS
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JAKARTA – A courier company built by a Chinese expatriate formerly working in the Indonesian capital and his then boss is gearing up to raise funds of up to US$1 billion (S$1.36 billion) by listing on the Hong Kong stock exchange
J&T Express was founded in 2015 by former Chinese corporate executive Jet Lee, who was the Indonesia head of Chinese electronics maker Oppo, and his boss Tony Chen, founder and chief executive of Oppo.
