The share price of Kerry Express (Thailand) Public Company Limited (SET: KEX) at the time of 10:07 on May 2, 2025 was at THB 1.48, a 0.25 or 20.33% increase with a total trading value of THB 33.76 million.
The surge in KEX’s share price followed disclosure from CEO Mr. Jiawei Zhang regarding the board resolution from the company’s fourth board meeting of 2025, on April 30, relating to the request for voluntary delisting of its shares from the Stock Exchange of Thailand (SET), according to the F10-6 filing. The board passed a key resolution as followed:
The board resolved to propose to the Extraordinary General Meeting of Shareholders No. 1/2025 for consideration and approval of the voluntary delisting of the company’s shares from the SET.
This motion follows a letter of intent dated April 30, 2025, from SF International Holding (Thailand) Co., Ltd. (SFTH), the major shareholder who holds 2,853,952,489 shares, representing 81.43% of the issued shares of KEX.
According to the letter, SFTH has proposed that KEX voluntarily delists its securities from the SET and further intends to make a tender offer to purchase all of KEX’s shares not currently held by SFTH, amounting to 651,017,806 shares or 18.57% of the total issued shares. The offer price is set at THB 1.50 per share (Tender Offer for Delisting).
This tender offer price is not lower than the highest price calculated in accordance with the criteria set out in the Capital Market Supervisory Board’s Announcement No. TorJor. 12/2554 regarding rules, conditions, and procedures for acquisition of securities for business takeover.
However, the offer price is subject to adjustment if any event or action occurs which causes, or may cause, serious damage to the company’s financial position or assets, or any other material event affecting the determination of the tender offer price, or any other event as specified in the aforementioned announcement. The final tender offer price will be in accordance with TorJor. 12/2554.
