Thailand
Thai bourse ‘the highest’ fundraiser for ASEAN firms
The Thai stock market has the highest fundraising value among ASEAN countries in the first quarter of this year, the Stock Exchange of Thailand (SET) said on March 26.
Dr Soraphol Tulayasathien, head of corporate strategy division, said Thailand’s fundraising as of February this year was 46.1 billion baht ($1.48 billion), followed by Indonesia’s 5.96 billion baht and Malaysia’s 497 million baht.
In the first quarter of this year, five companies launched initial public offerings (IPOs) with market capitalisation of 217.41 billion baht at IPO price.
Of those companies, PTT Oil and Retail Business (OR) and Rojukiss International (KISS) were listed on the SET, while Jakpaisan Estate (JAK), TQR and President Automobile Industries (PACO) were listed in the Market for Alternative Investment.
Manpong Senanarong, head of issuer and listing division, said up to 30 companies, property funds, real estate investment trusts and infrastructure funds are expected to be listed in the Thai stock market this year. “Of these, 10 companies are ready to raise funds in the stock market, while eight companies are filing their documents with the Securities and Exchange Commission [SEC].”
Manpong expected Thai stock market capitalisation this year to be similar to the previous year of 555 billion baht.
Asia Plus Group Holdings CEO Kongkiat Opaswongkarn said four companies with the securities company’s support – Asset Wise (ASW), Mena Transport (MENA), NSL Foods (NSL) and Proen Corp (PROEN) – had received approval from the SEC to launch their IPOs. “Three of these companies are expected to launch their IPOs in the first half of this year, and one company in the second half.”
THE NATION (THAILAND)/ASIA NEWS NETWORK