Kerry Express IPO eyed for growth potential, SET50 listing expected mid-2021

She expects KEX’s market capitalisation to hit Bt100 billion as its shares have high growth potential and investors are showing great interest.

Based on KEX’s initial public offering (IPO) price, she said the company’s market capitalisation should be around Bt48.7 billion.

KEX has received very strong investor interest with more than 23 times oversubscription from institutional investors and approximately 10 times oversubscription from cornerstone investors.

“Thailand’s leading parcel delivery brand has the potential to grow in line with the e-commerce industry, which is expected to grow by 20 per cent annually in the next five years,” she said.

KEX senior executive vice president of finance Issarin Patramai said the company’s compound annual growth rate (CAGR) from 2017 to 2019 was 72.8 per cent, while its revenue last year and in the first nine months this year were Bt19.7 billion and Bt14.6 billion, respectively.

“Revenue in the first nine months this year rose by 0.2 per cent year on year,” he said.