VenkatTencent-backed J&T Global Express is the latest logistics-related company seeking to tap investors' appetite in Hong Kong with a 3.92 billion Hong Kong dollar ($500.80 million) share offering. The logistics service company plans to sell 326.55 million shares at HK$12 each in an initial public offering, J&T Global said Monday. This follows last month's filing for a public offering by Cainiao Smart Logistics Network, Alibaba Group's e-commerce logistics arm. J&T Global expects shares to start trading on the Hong Kong exchange on Oct. 27. The company plans to use the IPO's proceeds to expand its logistics networks, including tapping new markets, as well as research and development.

Source: Wall Street Journal October 16, 2023 00:20 UTC