|Bid||6,350.00 x 0|
|Ask||6,375.00 x 0|
|Day's Range||6,325.00 - 6,750.00|
|52 Week Range||1,850.00 - 7,300.00|
|Beta (5Y Monthly)||2.38|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 27, 2021 - May 03, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||May 18, 2018|
|1y Target Est||3,016.50|
(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.J&T Express could potentially challenge telecommunications tower operator PT Indosat as the biggest U.S. listing by an Indonesian company, according to data compiled by Bloomberg. Indosat raised $1.05 billion in an IPO in 1994. If successful, J&T Express would also be the first Indonesian firm to list in New York since 2019.Details of J&T Express’s IPO including size and timeline could still change as deliberations continue, the people said. A representative for J&T Express declined to comment.Founded in 2015 by entrepreneurs Jet Lee and Tony Chen, J&T Express has since expanded into countries including Malaysia, Vietnam, Indonesia, Thailand, Singapore, Cambodia and China, according to its website. The courier has more than 350,000 employees and recently launched an air freighter in Tangerang.J&T Express counts among its partners Indonesia’s e-commerce firms PT Tokopedia and Bukalapak.com and Shopee, a unit of Singapore-based Sea Ltd.Demand for logistics and warehouses have been turbo-charged by the pandemic as customers increasingly switch to online shopping. Delivery service providers are particularly needed in Indonesia as its population of 267 million is spread across about 7,000 islands.Read more: PE Firms Are Feasting on China’s $5.5 Billion Logistics M&AFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Indosat Ooredoo and Snap expand their partnership to accelerate the adoption of augmented reality (AR) in Indonesia. Through this strategic move, Indosat Ooredoo and Snap aim to drive innovation within the field of AR, while empowering creativity and engagement amongst IM3 Ooredoo users, Snapchatters, and brands.
Moody's Investors Service has affirmed the Baa3 issuer rating of Indosat Tbk. At the same time, Moody's has changed the outlook to stable from negative. "The change in outlook to stable from negative reflects the improvement in Indosat Ooredoo's operational metrics, as well as our expectation that the company will maintain its market position while keeping its financial metrics broadly stable over the next 12-18 months," says Stephanie Cheong, a Moody's Analyst.