Indonesia’s J&T Express weighing US$1bil-plus IPO

JAKARTA, April 2 (Bloomberg): J&T Express, an Indonesian courier company, is considering a U.S. initial public offering that could raise more than $1 billion, according to people familiar with the matter.

The Jakarta-based company is working with advisers on the first-time share sale, which could take place as soon as the fourth quarter, the people said. An offering could value J&T Express at about $5 billion, said one of the people, who asked not to be identified as the information is private. The company is considering a new funding round after it recently raised $300 million, one of the people said.