SET in blitz of roadshows
The Stock Exchange of Thailand plans major roadshows, including an upcoming one in the United States, in a bid to woo more investment from foreign institutional investors.
In cooperation with Asia Credit Securities and BNP Paribas, the bourse will host the “SET US Road Show: Riding Thailand’s Urbanisa-tion Wave” from June 25-29.
Eight listed companies will take part in the four-city tour. Aside from New York and Boston, where annual SET roadshows take place, Chicago and San Francisco have been added to the destination list.
SET president Charamporn Jotikasthira yesterday said the US roadshow formed part of the exchange’s plan to boost investment from institutional investors.
This follows roadshows in Singapore, Hong Kong and Malay-sia. Others are planned for Japan and Canada next month, in co-operation with Daiwa Securities.
ALTERNATIVE CHOICES
“The euro crisis marks a good opportunity for the exchange to offer alternative choices to foreign institutional investors,” he said.
“Thailand has recovered quickly from last year’s floods, showing better orders in all business segments. If the growth pace can be maintained, this will draw more institutional investors. Political factors should not cloud the overall investment sentiment.”
The eight companies joining the US roadshow are from five sectors, which demonstrates the strengths of Thai listed companies and the capital market, he added.
They are Advanced Info Service, Bank of Ayudhya, Tisco Financial Group, Banpu, Thai Oil, Central Pattana, Amata Corp and Thai Union Frozen Products. Their combined market capitalisation is Bt1.2 trillion, or 12.3 per cent of overall market cap as of June 12.
The euro crisis has taken a heavy toll on the Thai exchange.
Market sentiment in May was hit by Greek and French political worries and concerns over financial institutions’ stability in Spain and Italy, as well as China’s sluggish economic data.
At the end of May, the SET’s main index stood at 1,141.50 points, down 7.08 per cent from the previous month but 11.33 per cent higher than at the end of 2011, making it Asia’s third-best performer, after Vietnam and the Philippines.
In the month, the combined average daily trading volume of the SET and the Market for Alternative Investment was Bt33.12 billion, up 1.42 per cent from a year earlier and 18.75 per cent higher than in April.
