KEX shares rise 132% on very first day of trading

KEX is Thailand’s leading parcel delivery brand which focuses on providing various types of services, such as consumer to consumer (C2C), business-to-consumer (B2C) and business-to-business (B2B). As of September 30, the company delivered over 1.2 million parcels per working day.

KEX has a paid-up capital of Bt870 million with a par value of Bt0.50 per share. The company offered 300 million ordinary shares to the public from December 8 to 18 at the price of Bt28 per share, with the aim of raising Bt8.4 billion.

The company's market capitalisation at IPO price was Bt48.72 billion, while SCB Securities and Maybank Kim Eng Securities are financial advisers and underwriters.

KEX's two major shareholders are KLN Logistics with 52.1 per cent and VGI with 19 per cent. The company has the policy of paying dividends of no less than 30 per cent of its net profit after deducting tax and other payments under the law to shareholders.