Breaking News! Kerry Seeks IPO, Raising ฿6bn to Elevate Business to Meet Higher Demands

Kerry Thailand expects to raise 6,058 million baht in IPO accelerate investment needed to meet surging demand generated by e-commerce and online shopping.

Bloomberg has reported that Kerry Express (Thailand) Limited, the nation’s biggest operator of parcel-delivery services, has confirmed that the company is planning an initial public offering (IPO) to raise funds to accelerate investment needed to meet surging demand generated by e-commerce and online shopping.


Chief Executive Officer of Kerry Thailand, Alex Ng, stated Kerry Thailand, a unit of Hong-Kong-based Kerry Logistics Network Ltd., is working on an IPO and will disclose it as soon as possible while declining to elaborate further on the comment.

The report, citing people familiar with the matter, stated that Kerry Logistics, backed by Malaysian billionaire Robert Kuok, is considering an IPO of the Thai business that could raise at least $200 million (approx. 6,058 million baht).

“We are growing tremendously,” Ng said in an interview on the sidelines of a press event Wednesday. “We will continue to invest in equipment and hardware to maintain our leading position.”


Thailand’s e-commerce market is expanding by at least 8% a year and now exceeds 3.05 trillion baht, according to data compiled by Bangkok Bank Public Company Limited (BBL). Meanwhile, Kerry Express, set up in 2006, has more than 5,500 service points nationwide and delivers at least 1.1 million parcels a day.


In the latest local report, VGI Public Company Limited (VGI) had purchased a 23% stake of Kerry Thailand, while BTS Group Holdings Public Company Limited (BTS) holds a 21.22% stake of VGI.

The expansion of Kerry Thailand could benefit its shareholders in many ways since BTS owns the public transportation services while VGI owns the advertising business. Since Kerry requires fast delivery, using BTS Skytrain to distribute packages could be an option for business synergy while a better advertisement can be trusted by VGI.