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Thailand's 2nd-largest deliverer files for IPO in e-commerce boom

Kerry Express raises funds to boost logistics in challenge to Thailand Post

Kerry Express Thailand has a 39% market share by number of deliveries, trailing only state-owned Thailand Post. (Photo courtesy of the company)

BANGKOK -- Kerry Express Thailand, the country's second-biggest delivery services operator, has filed for an initial public offering to raise funds to capitalize on a rapidly growing logistics market spurred by demand due to the coronavirus pandemic.

"The funds raised from the IPO will be spent to expand the company's distribution network, increase its delivery centers, pay back loans and used as working capital," the company said in a statement.

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