The share price of VGI Public Company Limited (VGI) almost hit the ceiling at the opening bell of August 27, 2020, after Kerry Express (Thailand) Public Company Limited (KEX) announced to sell an IPO yesterday, shaping up to enter the SET Index.
VGI rose as much as ฿0.9/share or 13.23% to ฿7.70/share after the opening bell in response to the announcement from KEX’s 300 million shares of IPO. VGI holds 23% stake in KEX, while BTS holds 21.45% in VGI. Bloomberg analysis showed that KEX would raise more than 6,000 million baht of funds from its IPO.
KEX provides express delivery service providers, offering a comprehensive range of integrated parcel delivery service to customers in the C2C, B2C, and B2B segments in Thailand.