Triple i Logistics receives strong demand for IPO shares
Triple i Logistics, a full-service logistics provider, is offering 164.5 million of its shares in an initial public offering (IPO). The shares are valued at Bt4.80.
Institutional investors showed strong demand, overbooking their allotment by almost 20 times, the company’s chief executive officer Tipp Dalal said yesterday.
The IPO proceeds will be used to invest in 10 projects, such as the International Air Cargo Terminal at Don Muang International Airport, for which the company has been awarded a concession to operate by the Airport Authority of Thailand. This cargo terminal will be opened in the fourth quarter of this year. In addition, the company will invest in projects of each major business unit covering chemical logistics, inland transport and warehouses and distribution.
Triple i Logistics has registered capital of Bt302.25 million.
“The company has achieved strong and continuous business growth,” the company said. “For the first six months of this year, the booked had revenues of Bt1.08 billion, an increase of 10 per cent from Bt985 million for the same period last year. Net profit jumped 64 per cent to Bt82 million for the six months, from Bt50 million in the same period last year.”
