Kerry Express (Thailand) Public Company Limited (KEX) today announces the final result of the mandatory tender offer* for its shares by SF Express**, the largest integrated logistics service provider in China and Asia. SF Express becomes a major shareholder of KEX with total 1,091,818,327 shares or 62.66 % of total issued and paid-up shares.

As a direct subsidiary of SF Express, KEX can anticipate more flexible supports, particularly in the funding area in addition to the technology and operational expertise that KEX has consistently received. The change in the shareholder structure will bring about positive impacts and enable KEX to achieve its ambitious goals.

Mr. Alex Ng, Chief Executive Officer of Kerry Express (Thailand) Public Company Limited, states that “KEX’s management team is enthusiastic about SF Express becoming our major shareholder, anticipating deeper collaboration, and confident that it will yield positive outcomes for KEX. We are dedicated to supporting SF Express, as we believe in its business strengths, which will elevate KEX to new heights”.

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* SF International Holding (Thailand) Co., Ltd. (“SFTH”) make a  mandatory tender offer for all of the remaining securities of the business on 8 February 2024 to buy  1.28 billion shares (or 73.18% of total issued and paid-up shares) held by other shareholders at Bt5.50 per share. The tender offer period lasted 28 trading days, from 13 February to 22 March 2024.

** SF International Holding (Thailand) Co., Ltd. (“SFTH”) is an indirect subsidiary of SF Express and is obliged to make a mandatory tender offer.