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.
That offer price already reflected strong demand, as it was set at the upper end of the 25 to 28 baht range proposed earlier. The final price allowed the delivery service to raise 8.4 billion baht through the sale of 300 million shares, or 17.2% of all issued shares…
