(MENAFN- ACN NewsWire) Sino Logistics (SET: SINO) launches first SET trading day on September 20 - To bolster growth in every business group of the Company
- And become a leading integrated international logistics Service Provider in ASEAN
Bangkok, Thailand, Sept 21, 2023 - (ACN Newswire) -
Sino Logistics Corporation Plc (SINO), an integrated international logistics service provider, launched the Company's first day of stock trading at the stock exchange of Thailand (SET) on September 20, with the stated aim to move forward with the expansion of container storage yards, while also getting ready to join up with partners to further invest both domestically and in the ASEAN region. The Company is also proactively fostering growth in every business group in its determination to become one of the leaders in the provision of integrated international logistics services in the ASEAN region.
Mr. Nanmanus Witthayasakpant, Chief Executive Officer of Sino Logistics Corporation PCL (SINO), announced that the Company was listing its shares for trading on the Stock Exchange of Thailand (SET) on September 20, using the abbreviation "SINO" and classified in the "Transportation & Logistics" business sector in the "Services" Group, following the successful initial public offering (IPO). This important milestone clearly reflected the Company's strong business fundamentals and good growth potential as a logistics service provider with complete expertise in international freight forwarding by sea, air and land, as well as warehouse rental services, customs clearance services and other support services related to logistics.
As for the strategy to foster growth going forward, the Company plans to invest in companies that operate freight forwarding businesses in Southeast Asian countries to increase regional market share and further expand customer base. This will help to promote long-term competitiveness in providing international logistics services in all forms, including sea, air and land. Also included will be the investment in companies that operate international air freight services and the expansion of container storage service areas to efficiently respond to the customers' demand for increased domestic and cross-border land transport services.
"We are committed to developing and expanding our services to countries in Southeast Asia in order to deliver efficient professional integrated services with high standard, quality, safety and punctuality so as to best serve the needs of customers and to sustainably drive the growth of the Company," Mr. Nanmanus said.
Mr. Somphop Keerasuntonpong, President of Finansia Syrus Securities Public Company Limited, as the underwriter, said that the offering of 292 million SINO shares at 1.40 baht per share was received with great interest from investors. This reflected confidence in the Company's potential to become a truly integrated international logistics service provider with the expertise in providing services on international sea freight routes covering more than 100 countries, such as on the Thailand-North America, Thailand-Asia and Thailand-Europe routes.
All those are the main export and import arteries for world trade. Also significant is the strategic investment plan aimed at improving service quality and to expand service coverage to countries in the ASEAN region. We believe that SINO will be a new stock that will create good returns for investors in the long term.
At the same time, to build investors' confidence and to reinforce the Company's determination to list on the SET, the original shareholder group also voluntarily entered into an agreement not to sell the remaining shares after the Silent Period in accordance with the SET regulations for a period of six months as from the first day of trading on the Stock Exchange as well.
Ms Jirayong Anuman-Rajadhon, Managing Director of Jay Capital Advisory Company Limited as the financial advisor, added that the fund raising exercise on the SET will put SINO in an even stronger financial position. This will help support the Company's plan to aggressively expand the customer base into the ASEAN region and to further increase the ability to provide even better services. Therefore, the financial advisor is confident that SINO will be another stock that can create wealth for investors in the long term.
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Sino Logistics Corporation Plc.
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