Kerry Express Thailand Public : The extension in the use of IPO Proceeds
August 10, 2022 at 08:11 am EDT
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(Translation)
Ref. No:
KEX 012/2022
Date:
August 10, 2022
Subject:
The extension in the use of IPO Proceeds
Attention:
President
The Stock Exchange of Thailand
With reference to the initial public offering ("IPO") of Kerry Express (Thailand) Public Company Limited (the "Company")'s during the period of 8 - 9, 14 December 2020, which offered 300 million newly issued shares at the IPO price of THB 28.00 per share, totaling THB 8,111 million after the deduction of all IPO related expenses with the purpose of use of proceeds as specified in the Company's prospectus (per the table on page 2).
The Company has been exploring the opportunities to create value to its shareholders by using various strategies, including business expansion, and diversification, partnership engagement as well as strengthening its operational excellence. Thus, the Company would like to extend the utilization of funds, including IPO proceeds, to reflect such strategies.
The Board of Directors Meeting No. 4/2022 approved the extension of the specified use of IPO proceeds as disclosed in the filing and IPO prospectus. The amendment has considered immaterial with the value not exceeding THB 1,200 million or less than 15 per cent of the total amount received from the IPO. Therefore, the Company is required to gain the Board of Directors' approval and report the amendment to the shareholders at the next shareholders' meeting. This is in accordance with the Notification of the Office of the Securities and Exchange Commission No. SorJor. 63/2561 Re: Change in Purposes of Proceeds Utilisation under the Registration Statement for Offer for Sale of Securities and Draft Prospectus.
Kerry Express (Thailand) Public Company Limited
Head Office: Room 906, 9th Floor, Chao Phya Tower,
Kerry Express (Thailand) pcl published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 12:09:52 UTC.
Kerry Express (Thailand) Public Company Limited is a Thailand-based parcel delivery company. The principal business operations of the Company and its subsidiaries are domestic and international parcel delivery services. The Company provides a range of services to a variety of industry sectors that cover consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B). It offers retailers and individuals express delivery and payment-on-delivery solutions through its extensive network of over 15,000 service points (including parcel shops, parcel lockers, and service points in its retail and individual partnersâ areas) and other service points. It offers integrated e-commerce solutions, including cross-border delivery solutions, e-fulfilment services, parcel return management, and payment on-delivery solutions. It serves corporate customers by delivering parcels to offices, branches, and other business locations, namely banks, financial institutions, and legal firms.