Triple i Logistics plans to use IPO proceeds for its projects pipeline
TRIPLE I LOGISTICS PLC plans to raise funds by listing on the Stock Exchange of Thailand to expand its air cargo business and inland transportation and expects to invest at least Bt200 million in the two years following the initial public offering (IPO).
“We plan to expand and strengthen our businesses and generate good returns for all shareholders,” said Tipp Dalal, chief executive officer of Triple i Logistics, or III.
The company will disclose the IPO price on Monday.
Established in 1991, Triple i Logistics has over 25 years of experience in the logistics business. It has served many large customers, global and local, with 24 logistics companies in its group.
Aiming at developing some unique strengths over other providers, the company is not only a full-service logistics provider but also a market leader in air cargo and chemical and specialty logistics.
It plans to invest in more than 10 air freight and chemicals logistics projects as well as airport cargo terminal projects and the inland transport business.
“With the government’s mega project investment plan, which will lead to the growth of many industries, the expansion of Asean’s trade economy as well as the rapid expansion of the e-commerce business, the company expects more opportunities for its business growth,” Tipp said.
III had achieved high and continuous growth for its financial results.
Revenue grew on average 35 per cent per year to Bt2.07 billion last year.
It posted revenue of Bt1.54 billion in 2015 and Bt1.13 billion in 2014, thanks to the increase in the volume of air freight and logistic services.
Its net profit surged 245 per cent to Bt94.5 million in 2016 from Bt27.4 million in 2015 and Bt13.4 million in 2014, on higher revenue and improved cost management.
Its net profit margin also improved sharply from 1.17 per cent in 2014 to 4.50 per cent in 2016.
For the first quarter of this year, revenue grew 17 per cent to Bt535 million from Bt457 million in the same quarter last year.
Net profit jumped 49 per cent to Bt40.3 million in the first quarter from Bt27 million in the same quarter last year.
The company’s IPO application has been already approved by the Securities and Exchange Commission, so it plans to float its shares next month.
With registered capital of Bt220 million, it plans to offer 164.5 million IPO shares or no more than 27 per cent of total shares to institutional investors, retail investors and its employees.
CIMB Thai Bank is its sole financial adviser and CIMB Thai Securities its lead underwriter.
