Fund-raising through IPOs in 9 months exceeds SET's 2013 target of Bt180 bn
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New initial public offerings (IPO) in the first nine months of this year raised Bt232 billion from the stock market, more than the target of Bt180 billion for the year, following the decision to let infrastructure funds raise capital in the Stock Exchange
SET senior vice president group head Issuer and Listing Paveena Sriphothong said that capital raised in the market through IPOs exceeded the target as this was the first year when infrastructure funds could also raise capital from the market, while a number of property developers launched property funds early this year.
BTS Growth Fund and Amata Bgrim, two infrastructure funds, raised Bt62.5 billion and Bt6.3 billion respectively.
“We cannot estimate how much capital will be raised through new IPOs by the end of this year as many firms have plans in the pipeline,” she said.
For instance, next month a new infrastructure fund, SPCG Infrastructure Fund (SPCGIF), intends to raise Bt5.5 billion to Bt5.71 billion.
Meanwhile, Jasmine International plans to launch infrastructure funds to raise Bt70 billion in the last quarter of this year for broadband Internet.
Paveena said the SET had adjusted its IPO target from Bt120 billion set in the middle of the year to Bt180 billion, but cannot estimate the final figure for the year.
