SET welcomes Thailand’s leading parcel delivery firm Kerry Express on Dec 24

The Stock Exchange of Thailand (SET) will list Kerry Express PLC, a leading express delivery service provider, on December 24, under the ticker symbol “KEX”. The company has a market capitalization at its initial public offering (IPO) of THB 48.72 billion (approx. USD 1.62 billion).

SET Senior Executive Vice President Manpong Senanarong said that KEX would list and start trading on SET in Services industry group, Transportation & Logistics sector.

KEX is a private express parcel delivery firm, providing integrated services to customers across segments through its nationwide network. The company provides over-the-counter parcel service for customer-to-customer (C2C), business-to-customer (B2C) and business-to-business (B2B) markets. For the 9-month period ending September 30, 2020, the company has delivered an average of 1,200,000 parcels per business day. KEX is also considered Thailand’s first and biggest cash-on-delivery (COD) operator.

KEX has a registered paid-up capital of THB 870 million with 300 million newly issued shares at a par value of THB 0.50 each. It offered the entire newly issued shares during December 8 – 18, 2020 at THB 28 each, for a total of THB 8.4 billion. Siam Commercial Bank pcl and Maybank Kim Eng Securities (Thailand) pcl are its financial advisors while SCB Securities Co., Ltd. and Maybank Kim Eng Securities (Thailand) pcl are the lead underwriters.

KEX Chief Executive Officer Alex Ng said the company is pleased to be listed on SET, with confidence to help strengthen the company’s business expansion. The fundraising will be used for business expansion and debt repayment, and as working capital. KEX keeps its continued investment plan going forward in a move to inclusively drive sustainable growth across sectors to keep pace with growth of the new economy. The company is committed to becoming Thailand’s best express delivery firm, providing quality services, helping upgrade the quality of the society as a whole, taking care of employees, while taking responsibility for the stakeholders and shareholders.

KEX’s two major shareholders after the IPO are KLN Logistics (Thailand) Co., Ltd., (52.1 percent) and VGI pcl (19.0 percent). The company’s dividend policy is to pay no less than 30 percent of net profit after corporate income tax and all types of reserves in compliance with the laws from the company’s separate financial statement. The dividend payout must not exceed the company’s accumulated net profit of its separate financial statement.

For more information on KEX, please see the company’s prospectus at the Securities and Exchange Commission’s website at www.sec.or.th; and for general information, please visit www.kerryexpress.com/th as well as www.set.or.th

Source: SET Corporate Communications

Symbol: KEX