VILAF has advised J&T Global Express Limited (J&T Express) as Vietnamese law counsel on its initial public offering (IPO) and listing on the Hong Kong Stock Exchange. The transaction represents the second largest IPO on the Hong Kong Stock Exchange to date in 2023, with a post-issue market capitalization of approx. US$13.5 billion.
The gross proceeds from the offering were approximately US$500 million prior to the exercise of the over-allotment option.
J&T Express is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, including a major subsidiary in Vietnam.
The funds raised from the IPO shall be used to expand J&T Express “logistics network, improve existing infrastructure, and strengthen the company’s sorting and warehouse capabilities in Southeast Asia and other markets. J&T Express will also utilize the funds to expand into new markets and diversify its service offerings as well as for research and development and technology innovations, as it seeks to deliver faster and more convenient logistics services to consumers globally.”
VILAF Senior Partner Anh Dang led the VILAF team together with Counsel Hoang Duong, and Associate Tu Quach.