J&T Global Express, an Asian courier service group based in Shanghai, could raise as much as HK$4.1 billion (US$520 million) from its initial public offering after orders from investors exceeded the shares offered for sale.
Indonesian courier services start-up J&T Global Express said on Monday it planned to raise up to HK$3.92 billion (US$500.97 million) in Hong Kong, in what is set to be the Hong Kong stock exchange’s second-largest initial public offering (IPO) of the year.