\n<\/p>\n
HONG KONG SAR –\u00a0Media OutReach<\/a>\u00a0– 24 December 2020 –\u00a0Kerry \u00a0<\/p>\n The \u00a0<\/p>\n The \u00a0<\/p>\n William Ma, Group Managing Director of Kerry Logistics Network, said, “We \u00a0<\/p>\n Alex \u00a0<\/p>\n Since HONG KONG SAR –\u00a0Media OutReach\u00a0– 24 December 2020 –\u00a0Kerry Logistics Network Limited (‘Kerry Logistics Network’; Stock Code 0636.HK) is pleased to announce that it has completed the spin-off of its subsidiary, Kerry Express Thailand (‘KETH’; Stock Code ‘KEX’), which commenced trading on the Stock Exchange of Thailand (‘SET’) today. KETH remains a subsidiary of Kerry …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10569"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=10569"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10569\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=10569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=10569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=10569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nLogistics Network Limited<\/a> (‘Kerry Logistics Network’; Stock Code 0636.HK) is pleased to announce that it has completed the
\nspin-off of its subsidiary, Kerry Express Thailand (‘KETH’; Stock Code ‘KEX’),
\nwhich commenced trading on the Stock Exchange of Thailand (‘SET’) today. KETH remains
\na subsidiary of Kerry Logistics Network after the spin-off.<\/p>\n
\nprice of KETH’s initial public offering of 300 million shares was fixed
\nat the upper limit of THB 28 per share. KETH had received very strong investor
\ninterest with more than 23 times oversubscription from institutional investors
\nand approximately 10 times oversubscription from cornerstone investors. <\/p>\n
\nproceeds from the offering are intended to be used for KETH’s express delivery
\nnetwork expansion and investments in its transportation network to enhance its
\noperational efficiency, in the development of IT systems, the repayment of
\nexisting indebtedness to banks and as working capital for business operations.<\/p>\n
\nare very proud of this successful spin-off and listing, and the enthusiastic
\nreception from investors. KETH is now a true Thai company that belongs to the
\nThai people to serve the Thai [people\/population]. Kerry Logistics Network has
\nnurtured KETH’s growth through the years and has been encouraged by how it has
\nprospered. By now, Kerry Express Thailand has become a byword for excellence in
\ndelivery service in Thailand. With the leadership of an outstanding management
\nteam and capital from the listing, we are confident that KETH’s future triumphs
\nwill reach new heights and be the standard to which all are measured.” <\/p>\n
\nNg, Chief Executive Officer of Kerry Express Thailand, said, “KETH’s listing on
\nthe SET is an important milestone for the company and the culmination of the
\nKETH team’s hard work. We are truly grateful for the support of our investors,
\nwhich in itself is a testament to KETH’s current achievements and brilliant
\nprospects. The proceeds from the offering will ensure KETH’s continual growth
\nand thriving future as we further strengthen our infrastructure and enhance our
\noperations to provide our customers the best service to our ability and create
\nvalue for our stakeholders.”<\/p>\n
\nits establishment in 2006, KETH has become an indispensable part of Thai life.
\nIn 2019, KETH delivered an average of 1.1 million parcels per business day to
\noffices, warehouses, retail shops and households in Thailand. It was recognised
\nas Thailand’s Most Admired Brand 2020 by marketing magazine Brand Age. During
\nthe COVID-19 pandemic, KETH was deemed one of the essential services by the
\nThai government, exempt from mandatory closure, and played a key role in
\nsupporting businesses and consumers in Thailand in these unprecedented times.<\/p>\n<\/p><\/div>\n\n
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