BRIEF: JST launches $267 million Hong Kong IPO

6687.HK

E-commerce enterprise resource planning (ERP) software provider JST Group Corp. Ltd. (6687.HK) launched its Hong Kong IPO on Monday, aiming to sell 68.17 million shares for HK$30.60 each to raise HK$2.09 billion ($267 million). Shares will be sold in lots of 100 shares, requiring a minimum investment of HK$3,090.85. Subscriptions will close on Thursday, with trading set to begin next Tuesday.

JST is China’s largest e-commerce software as a service (SaaS) ERP provider, with a market share of 24.4%, according to third-party market data in its prospectus.

It plans to use 55% of net proceeds from the listing to strengthen R&D capabilities and expand its product portfolio over the next five years; 25% to enhance its sales and marketing efforts; 10% for strategic investments; and the remaining 10% for general corporate purposes.

By Lau Chi Hang

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