Market capital of IPOs this year soars to Bt500bn
Initial public offerings (IPO)s so far this year are worth almost Bt500 billion in market capital – double the Bt250 billion targeted by the Stock Exchange of Thailand, SET president Pakorn Peetathawatchai said on Tuesday.
This year’s Bt492 billion in IPO market capital was in line with the average yearly increase of Bt250 billion, he said.
"This is good news for the Thai stock market.”
This year’s Bt492 billion extra market capitalisation resulted from IPOs by 22 companies plus one Infrastructure Fund (IFF) and one Real Estate Investment Trust (REIT). Eleven companies plus the IFF and REIT floated on the SET, while the remaining 11 floated on the Market for Alternative Investment (mai), according to SET senior executive vice president Manpong Senanarong.
According to SET information, the IPOs total issue size was Bt124 billion and their offering size was Bt153 billion.
Meanwhile five more companies are waiting to launch IPOs this month, three on the SET and two on the mai, said Manpong.
"We believe that there are no uncertainties that would pressure the stock market in the remainder of this year," he added.
Nine of the newly listed stocks have dropped in price since their IPOs, with I&I Group Plc (IIG) and Silicon Craft Technology Plc (SICT) seeing the steepest falls of about 200 per cent.