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The Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, successfully operated as an alternative fundraising source for Thai small- and medium-enterprises in 2013, with 60 companies raising nearly THB20 billion (approx. USD606 million) on mai in 2013, while hitting new record highs in terms of number of initial public offerings (IPOs) and financial instruments usage, boosting its market capitalization to an all-time high.
Chanitr Charnchainarong, mai president, said the THB20 billion raised through mai in 2013 was from 15 IPOs worth THB 8.02 billion, while 45 existing companies raised THB 11.89 billion, reflecting mai’s major role as a fundraising source to enhance business opportunities for business owners. In addition, listed companies also utilized the capital market in other way with 36 firms using 51 financial instruments, such as issuing dividend stocks and warrants and share offering programs to employees.
Other notable successes in 2013 were: 1) the launch of 15 IPOs, the highest number of IPOs ever; 2) an all-time high in market capitalization, reaching THB 177.37 billion, up 33 percent from a year earlier, with IPOs accounting for 28 percent of mai’s market value; 3) a record high in average daily trading value of THB 2.26 billion; and 4) average daily transactions of 36,676 items.
The year 2014 will mark mai’s 15th anniversary. The exchange continuously persuades companies with high potential to list on its exchange, with 10 firms awaiting Securities and Exchange Commission approval in the pipeline. The exchange also promotes the sustainable growth of listed companies by continuously boosting their quality and development through fundraising and using a variety of financial instruments. In addition, mai disseminates information on its listed securities, which are classified into eight industry groups and posted on mai website, while mai indices for individual industry groups will start in 2015.
Currently, there are 95 mai-listed companies.
Key statistic of The Market for Alternative Investment (mai)
|
|
End-2009 |
End-2010 |
End-2011 |
End-2012 |
End-2013 |
|
IPO |
11 |
7 |
7 |
10 |
15 |
|
Number of listed companies |
60 |
66 |
73 |
81 |
95 |
|
mai index |
215.30 |
272.79 |
264.23 |
415.68 |
356.80 |
|
Market Capitalization (mln baht) |
39,131 |
55,128 |
77,310 |
133,017 |
177,365 |
|
Daily average trading value (mln baht) |
372 |
397 |
619 |
1,220 |
2,259 |
|
Daily average transaction (item) |
10,370 |
11,957 |
14,978 |
23,661 |
36,676 |
|
Fundraising value (IPO) |
1,316 |
689 |
1,160 |
2,482 |
8,017 |
|
(Secondary market) |
523 |
1,868 |
3,518 |
12,083 |
11,887 |
|
Total fundraising (mln baht) |
1,839 |
2,557 |
4,678 |
14,565 |
19,904 |
|
Number of financial instrument |
17 |
14 |
22 |
32 |
51 |
