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The Stock Exchange of Thailand (SET) revealed that 17 newly listed companies raised funds through SET and its Market for Alternative Investment (mai) in the half of the year with a combined market capitalization of THB127.14 billion (approx. USD 3.8 billion), although domestic uncertainties have adversely affected the overall investment.
SET’s Executive Vice President Chanitr Charnchainarong said, “From the beginning of June, the Thai economic outlook has shown a brighter prospect. The Thai stock market has been improving and daily trading value has also been increasing, while companies have been continuing to list on both SET and mai. This reinforced the fundamentals that business sector is still confident in the Thai capital market, realizing the significance in fundraising for business expansion, despite lingering concerns on political and economic situations.”
With the positive figures of the first-half IPOs market, SET is on track to achieving its target of THB 210 billion. The 17 IPOs, consisting of nine SET-listed firms, four mai-listed firms, and four property funds, altogether raised THB 52.26 billion; with Thai Hotel Investment Freehold Leasehold property fund (THIF) being the biggest IPO in the first half, having raised THB 26.2 billion. Meanwhile, the market capitalization of these IPOs rose by 32 percent from their IPO market capitalization (as of June). In addition, most of the newly listed companies’ current stock prices are on average 49 percent higher than their IPO prices.
“A positive scenario is apparent as there are nine new securities received approval from the Securities and Exchange Commission (SEC) to be listed on the Thai capital market; moreover, 29 securities have submitted filings to the SEC. On top of this, it is possible that 19 more securities will submit the filings by the year end,” Chanitr added.
