|Plans to boost capacity to sorting 3 million parcels per day by 2023|
BANGKOK, Dec 25, 2020 - (ACN Newswire) - Kerry Express (Thailand) Plc. (KEX) has had its First Trading Day on the Stock Exchange of Thailand. With overwhelming responses during the subscription period, both from international and local investors. Viewed as a proxy of investment in the new economy, KEX provides an investment alternative in the local bourse, where a handful of choices are now available. The company is launching an aggressive strategy to expand its business into all provinces in Thailand, aimed at propelling further growth with technology and human resources, expanding express delivery service networks and boosting sorting capabilities to 3 million parcels per day by 2023, increasing efficiency, managing costs and creating continuous growth.
Mr. Alex Ng, Chief Executive Officer of Kerry Express, said he was confident that the issue would attract immense interest from investors who want to grow with the company. The company would strive to create continuous growth under the corporate concept "Kerry Express Everywhere". Growth would be sustainable, considering the company's strong commitment to ESG. From the issuance of 300 million shares in the Initial Public Offering (IPO), the company was able to raise a total offering size of approximately 8,400 million baht that will be used for Kerry Express's network expansion, enhancement of operating efficiency, repayment of existing bank loans and working capital and more investment in technology to increase the sorting capabilities to 3 million pieces per day by 2023
Ms. Veena Lertnimitr, Executive Vice President of Investment Banking, Siam Commercial Bank Plc., the company's joint financial advisor, and Director, SCB Securities Company Limited, the joint lead underwriter, said Kerry Express is an attractive investment stock with many competitive strengths such as 1. The first and biggest market leader of private express delivery service, 2. The highest growth rate considered from parcel volumes, 3. Being the backbone of e-commerce which is a new megatrend attracting huge interest from investors. 4. The most experienced private sector express delivery service provider, focused on constant development of technology and human resources, and 5, a young executive team with the most experience in the express parcel business. Kerry Express' business has a key role in propelling the New Economy and is an important part of the e-commerce ecosystem. These are the factors making KEX a hot stock much sought after by investors.
Mr. Montree Sornpaisarn , Chief Executive Officer, Maybank Kim Eng Securities (Thailand) Plc., another joint financial advisor and joint lead underwriter, said that growth trends in Thailand's e-commerce and social commerce sectors should have positive effects on continuously expanding demand for express parcel services. Kerry Express is a company with a strong brand with top-ranked national private express delivery brand recognition. It is the first private sector company to operate an express delivery service for over 14 years, providing its expertise and knowledge and understanding of the business to accommodate the needs of its customers. It also has a competitive advantage from service points covering every province, enabling the delivery service in every area of Thailand.
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Kerry Express (Thailand) Plc.
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Topic: Press release summary
Source: Kerry Express (Thailand) PCL
Sectors: Daily Finance
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