Thai IPO market to end another year of success with Kerry Express

Kingdom tops Singapore and Philippines by wide margin in funds raised

The IPO of Thai retailer Central Retail, left, was the biggest in Southeast Asia in 2020. Now, parcel transporter Kerry Express Thailand, right, is set to conclude another robust year for Thailand's IPO market. (Photos by Akira Kodaka and courtesy of Kerry Express)

MASAYUKI YUDA, Nikkei staff writer

December 24, 2020 14:05 JST

BANGKOK -- Parcel transporter Kerry Express Thailand is set to wrap up yet another year of success for the kingdom's capital market as funds raised through initial public offerings in 2020 at the Stock Exchange of Thailand topped regional peers despite intermittent pro-democracy demonstrations in the second half of the year weighing on the country's stock market as a whole.

The local subsidiary of Hong Kong-listed Kerry Logistics Network had a strong debut on the Stock Exchange of Thailand on Thursday. Investors' appetite lifted the share price to 73 baht in morning trade, 2.7 times the offer price finalized on Dec. 15.