KEX

Kerry Express (KEX) has officially received the SEC's approval on its IPO Application and the Filing has since become effective on 1 December 2020, and is ready to be listed. The price range is set at 25.00 - 28.00 baht. Subscription will take place between 8 - 9 and 14 December for retail investors, and 16 - 18 December for institutional investors. The Final Price is expected to be announced on December 15th. The leading express delivery company expects to debut on the Stock Exchange of Thailand in the 4th week of December, KEX will be the only e-commerce proxy investment opportunity listed on the Stock Exchange of Thailand. KEX is offering 300 million shares at IPO, which would result in a total offering size of approximately 7,500 - 8,400 million baht. Proceeds from the listing will be used for Kerry Express's network expansion, enhancement of operating efficiency, repayment of existing indebtedness to banks and working capital. Kerry Express has already received strong support from institutional investors with the cornerstone tranche being 10 times oversubscribed by cornerstone investors. "Thai people can now participate in Kerry Express as a shareholder and drive its sustainable growth in various aspects. We are grateful for such participation in the future of Kerry Express" said Mr. Alex Ng, Chief Executive Officer of Kerry Express. "The rise of the new economy, especially social commerce and e-commerce is fueling enormous growth in the logistics sector as it is the final platform connecting sellers with end consumers. This is also reflected in our performance where the volume of parcels grew substantially over 134.9% CAGR over the period of 2014 - 2019. Given that Thailand's e-commerce to retail penetration rate is still immature, Kerry Express is well-positioned to accommodate and propel further growth of e-commerce". With the existing network of more than 15,000 service points, 1,200 distribution centres and more than 18,000 employees, the Company continues forward with its "Kerry Express Everywhere" expansion in order to connect to every Thai. As a leading express brand, Kerry Express is determined to continuously improve efficiencies and service excellence, in conjunction with Environmental, Social and Governance responsibilities. Ms. Veena Lertnimitr, Executive Vice President Investment Banking Function, Siam Commercial Bank Plc., the company's joint financial advisor, and Director, SCB Securities Company Limited, the joint lead underwriter, said that after the submission of the IPO application to the Securities and Exchange Commission (SEC), the SEC has approved the IPO application and the filing has now become effective. The IPO price range has been set at 25.00 - 28.00 baht per share. There will be book building among institutional investors to determine the Final Price, with an announcement expected around 15 December 2020. Retail investors' subscription will take place during 8 - 9 and 14 December, and 16 - 18 December for the institutional investors. KEX stock is expected to begin trading on the 4th week of December this year. Mr. Prasert Tantayawit, Managing Director, Investment Banking Department, Maybank Kim Eng Securities (Thailand) Plc., another joint financial advisor and joint lead underwriter states his confidence in the Kerry Express (Thailand) IPO "KEX is an attractive investment, backed by the company's leading market position, its solid business model and the structural growth prospects." He further added that Kerry Express had received strong support from institutional investors. Cornerstone investors have overbooked for approximately 10 times the number of shares available in the cornerstone placing portion.

KEX

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บริษัท บูรพาทัศน์ (1999) จำกัด