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EQS-News: Kerry Express announces the IPOs price of 28 baht per share and expects to ring the SET's bell on 24th December
2020-12-16 14:49


EQS-News / 16/12/2020 / 14:49 UTC+8

 Kerry Express announces the IPOs price of 28 baht per share and expects to ring the SET's bell on 24th December
 

Kerry Express, Thailand's leading parcel express brand announces the pricing of its initial public offering of 300 million shares at a price of 28 baht per share, the highest price of the offering price range. The shares are expected to start trading on The Stock Exchange of Thailand on 24th December 2020, under the ticker symbol "KEX". Kerry Express had received very strong investor interest with more than 23 times oversubscription from institutional investors and approximately 10 times oversubscription from cornerstone investors. The proceeds from the offering are intended to be used for Kerry Express's express delivery network expansion and investments in its transportation network to enhance its operational efficiency, in the development of IT systems, the repayment of existing indebtedness to banks and as working capital for business operations.
 

Ms. Veena Lertnimitr, Director, SCB Securities Company Limited, the company's joint lead underwriter and joint bookrunner, and Mr. Prasert Tantayawit, Managing Director, Investment Banking Department, Maybank Kim Eng Securities (Thailand) Plc., another joint lead underwriter and joint bookrunner shared that the overwhelming interest from investors, came particularly from institutional investors whom have over-subscribed by approximately more than 23 times at the higher end of the IPO price range. The outcome reflects investors' confidence in Kerry Express as the market leader in express parcel delivery with outstanding business performance and very strong brand recognition.

 

Citigroup and Credit Suisse led the international sales of the IPO as joint bookrunners.

 *These materials are not an offer for sale of the Securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer does not intend to register any portion of the offering in the United States or to conduct a public offering of Securities in the United States. No money, securities or other consideration is being solicited by this communication or the information contained herein and, if sent in response to this communication or the information contained herein, will not be accepted. It may be unlawful to distribute these materials in certain jurisdictions. These materials are not for distribution in the United States, Canada, Japan or Australia. The information in these materials does not constitute an offer of securities for sale in the United States, Canada, Japan or Australia.



File: Kerry Express announces the IPOs price of 28 baht per share and expects to ring the SET's bell on 24th December

16/12/2020 Dissemination of a Financial Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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