Aqua Corp eager to take Thai Parcel public in May
Aqua Corp, the SET-listed media and publishing company, is planning to list its parcel delivery unit on the Stock Exchange of Thailand (SET) in May, aiming to raise funds for future expansion.
Thai Parcel, the logistics subsidiary of Aqua Corp, has submitted a filing proposal to the Securities and Exchange Commission and is awaiting the document review.
The company wants to grow the business via public funding on the Thai securities market.
Aqua managing director Chaipipat Kaewtrirat said Thai Parcel, which focuses on delivery of large parcels, is expected to float its shares in May, while the amount of stock the company plans to offer in the initial public offering remains undisclosed.
“After Aqua successfully lists Thai Parcel, the company plans to focus on driving other subsidiary companies into expansion in the future,” said Mr Chaipipat.
Thai Parcel offers a delivery service for odd-shaped and oversized parcels in Thailand. The company targets several groups of consumers through business models that include business-to-business, business-to-customer and customer-to-customer.
In 2022, Aqua diversified into the food industry through investment in Ethical Gourmet Co, a Thai holding company that has shares in restaurants such as Domino’s Pizza.
Other industries the company has channeled its funds into include healthcare and fintech.
Last year, Aqua bought 30,000 ordinary shares of fintech firm Peer For All from News Network Corp Plc, in preparation for investment in the peer-topeer lending platform.
In addition to Thai Parcel, the media firm also plans to expand investment in other areas of the logistics business soon, with investors and shareholders able to notice changes in the company’s trajectory this year, said Mr Chaipipat.