J&T Express aims to raise $596 M for technology development and international expansion
J&T Global Express (J&T Express), an Indonesian courier services company, announced on Friday that it plans to issue convertible bonds in order to raise approximately HK$4.65 billion ($596.40 million).
In a bourse filing, the company stated that the 2026 convertible bonds will be convertible into a maximum of 319.59 million new shares based on the initial conversion price of HK$14.55 ($1.87) and assuming full conversion of the bonds at the initial conversion price.
The net proceeds from the bond issue will be used by the company for general corporate purposes, to optimize its capital structure, including share repurchases, and to expand its international business and technological advancements.
By issuing the 2026 convertible bonds, the company will be able to further grow its international operations, strengthening its position in current markets, boosting local operational and technological capabilities, and increasing network efficiency to better serve customers around the world.
It will also give the business more liquidity for general business needs and possible share repurchases.
Since its founding in Indonesia in 2015, J&T Express has quickly grown its network to include 13 countries in South America, China, the Middle East, and Southeast Asia.
