Kerry Express files for IPO in Thailand

August 28, 2020 | 10:58

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Kerry Express Thailand, the country’s biggest delivery provider, has submitted an initial public offering (IPO) filing to the Thai Securities and Exchange Commission in preparation to offer up to 300 million IPO shares to the public.

Kerry Express files for an IPO in Thailand. In Vietnam, the firm is hiring more 2,000 employees, four warehouses, 110 distribution operations, and more than 300 professional trucks.

Kerry Express is an Asia-based logistics network with a highly diversified business portfolio and the strongest coverage in Asia, including Vietnam.

The company, which was established in 2006, will become the first parcel delivery firm to launch an IPO on the Stock Exchange of Thailand (SET).

At the moment, its wide range of services include cold chain, dangerous and bonded operations, pre-retailling, after-sales, and last-mile delivery services, to name a few.

With a global presence across 58 countries, Kerry Logistics Network – the parent corporation of Kerry Express – has established a solid foothold in half of the world’s emerging markets.

In Vietnam, the firm has more than 2,000 employees, four warehouses, 110 distribution operations, and 300 professional trucks.

Referring to the IPO, Alex Ng, chief executive of Kerry Express Thailand, told the Bangkok Post the company wants to become “a homegrown Thai brand for logistics services”.

Alex Ng also reaffirmed the company’s commitment to strengthen its operation as well as recruit more staff this year. During the outbreak, the number of staff doubled from the pre-COVID-19 period following high demand for courier services.

“We have partnered with all major e-commerce platforms even though those giant e-marketplaces have their own logistics services,” he added. “We are ready to support e-commerce, home shopping, and traditional businesses, including SMEs and farmers.”

The funds raised from the IPO will be used to expand the company’s express delivery network, loan repayment to financial institutions, and as working capital.

By Luu Huong

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