Courier giant's IPO about to fly

Indonesian courier services startup J&T Global Express appears set to launch an initial public offering in Hong Kong on Monday to raise US$500 million (HK$3.9 billion), which would be the SAR's second-largest new share sale in 2023.

The company had earlier aimed to raise at least US$1 billion via a Hong Kong IPO in the second half of 2023 according to a Reuters report in February.

The company raised US$2.5 billion at a valuation of US$20 billion in 2021 from investors, including Boyu Capital, Hillhouse Capital Group, Sequoia Capital China and gaming and internet giant Tencent (0700).

Also on the IPO front, Chinese wine and liquor shop chain Noble Family is reportedly seeking an IPO in Hong Kong following its delisting from the New Third Board in the mainland, officially called the National Equities Exchange and Quotations. The delisting from the NEEQ was seen as the first step, the 21st Century Business Herald reported. .

Noble Family closed 37.7 percent higher at 2.7 yuan (HK$2.89) yesterday, pointing to a market value of 432 million yuan.

And the second batch of green bonds (4723) closed 0.4 percent higher at HK$100.4 for a paper gain of HK$40. Investors are advised to hold their bonds until maturity.