Indonesian startup J&T Express said to seek over $2b in pre-IPO round

Indonesian startup J&T Express said to seek over $2b in pre-IPO round

Indonesian courier startup J&T Express is in talks with investors to raise more than $2 billion ahead of a Hong Kong initial public offering (IPO), and is looking to expand in Latin America, three people with knowledge of the matter told Reuters.

The logistics firm is seeking to hit a $20 billion valuation with the $2-2.5 billion fundraising round that is expected to be finalised in the coming weeks, and attract Tencent Holdings among other investors, the sources said.

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