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HONG KONG/SINGAPORE : Courier startup J&T Global Express, which launched in Indonesia before expanding across Southeast Asia and China, will be valued at about $13 billion in its Hong Kong initial public offering (IPO) due to launch on Monday, according to three sources with direct knowledge of the matter.
The IPO valuation would be lower than the $20 billion J&T achieved in its 2021 funding round, the sources said.
The sources could not be named as they are discussing private information.
J&T did not immediately respond to a request for comment from Reuters.
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