KEX Marks the D-Day to Go Public, Entering SET Index with Confidence at an IPO of THB28

KEX’s IPO reaches its last mile ringing the bell at SET on December 24, 2020 with the total fundraising size of approximately 8,400 million baht.

Thailand’s leading parcel express delivery company, Kerry Express (Thailand) Public Company Limited officially marks its D-DAY going public for the first trading day on this upcoming Christmas Eve, 24 December 2020. “KEX” will be used as the stock ticker and the initial IPO price is at 28 baht per share.

Through this IPO, KEX is offering a total of 300,000,000 ordinary shares to the public being the very first parcel express delivery company listed in SET.

 

After receiving the oversubscription from both institutional and retail investors, KEX has proved to be one of the most interesting IPOs deals of the year. With its strong fundamentals, KEX’s business has been growing rapidly during the past 3 years (2017 – 2019). The revenue increases significantly from 6,626.41 million baht in 2017 to 13,565.35 million in 2018 and 19,781.93 million baht in 2019. As well as the net profits which rise from 730.26 million baht to 1,185.10 million and 1,328.55 million baht over the same period.

 

With its strong delivery network and presences covering nationwide, KEX has its operations in over 15,000 service locations, 9 key sorting hubs, over 1,200 distribution centers supported by a fleet of approximately 25,000 vehicles. Kerry Express is everywhere.

 

Not only the nationwide coverage that KEX has stepped ahead but also its extensive ranges of services provided to the valuable customers including payment-on-delivery accepting cash, Rabbit LINE Pay and QR Payment, Same-Day delivery service in Bangkok and metropolitan areas and certain upcountry areas which soon will be nationwide. Apart from the services, KEX is strongly driven by customer’s experience having Kerry Express Application with a one-click booking feature, parcel tracking as well as the gateway to customer loyalty program’s privileges.

 

Ms. Veena Lertnimitr, Director, SCB Securities Company Limited, the company’s joint lead underwriter and Mr. Prasert Tantayawit, Managing Director, Investment Banking Department, Maybank Kim Eng Securities (Thailand) Plc., another joint lead underwriter shared that the offering of 300,000,000 million shares from KEX at the IPO price of 28 baht per share would reach the total offering size of approximately 8,400 million baht, with more than approximately 23 times oversubscription from institutional investors and approximately 10 times oversubscription from cornerstone investors at the top price of the offering price range. This has well reflected the investor’s confidence in moving forward with Kerry Express.

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