The Stock Exchange of Thailand (SET) is positioning itself as one of the largest stock exchanges for listings in the SEA region. The Thai stock market is expecting 27 initial public offerings, positioning the country as a leading destination for listings in the region for the foreseeable future.
Key Takeaways
- The SET is getting ready to proceed with the listing of 27 new companies.
- Since the beginning of the year 17 companies have already been listed in the SET.
- The listed firms have collectively raised 15.6 billion baht, achieving a combined market capitalization of 65.5 billion baht.
The Stock Exchange of Thailand (SET) is set to welcome 27 companies that are preparing to go public with their IPOs. This development solidifies its position as one of the largest regional destinations for listings.
The SET, which experienced a downturn earlier this year, has remained a hotbed for IPOs, with 17 companies already raising funds and making their market debut.
These firms have collectively raised 15.6 billion baht, achieving a combined market capitalization of 65.5 billion baht. The performance of these new listings has been a mixed bag, with the highest return soaring above 200% and the lowest dipping by 23% on their first trading day.
Some of the listed companies were Bangkok Genomics Innovation (BKGI), Advice IT Infinite (ADVICE), Conversely, Supreme Distribution (SUPREME), and Thai Credit Bank (CREDIT)
The MAI also saw its fair share of action, with 11 companies stepping into the fray and raising a total of 3.19 billion baht. This move bolstered the secondary bourse’s market cap by an impressive 11.9 billion baht.
The development of the SET in Thailand
- 🏢 SET Becomes Leading SEA Destination for Listings The Stock Exchange of Thailand (SET) is expected to see 27 new IPOs scheduled for 2024, making it a leading destination for listings in Southeast Asia.
- 🚀 Increase in IPO Volume Anticipated SET data indicates that IPO issues amounted to 38.3 billion baht (around $1.1 billion) in 2023, the seventh-highest in Asia, with 12 companies in the “new economy” sector. The exchange expects the volume of IPOs to increase further in 2024.
- 🌍 SET’s Strategic Plan for 2023-2025 SET has unveiled its strategic plan for 2023-2025, aiming to bolster the exchange’s position as a leading capital market in the region by attracting more listings, including from international companies.
The Stock Exchange of Thailand (SET) has demonstrated significant development and growth, reflecting the resilience and dynamism of Thailand’s capital market. Despite the challenges of the previous year, the SET has embarked on a journey of recovery, buoyed by the easing of monetary policies by major central banks and Thailand’s robust economic fundamentals in the post-pandemic era.
A strategic plan unveiled by the SET focuses on increasing market confidence, attracting investments, and developing infrastructure to meet global standards. The plan also supports Environmental, Social, and Governance (ESG) initiatives and promotes financial literacy, positioning the SET as a forward-thinking institution committed to sustainable growth.
The SET has continued to serve as a vital resource center for all financial products and a fundraising platform for companies seeking sustainable growth. With its strategic initiatives and favorable economic conditions, the SET is poised to maintain its trajectory of development and growth throughout 2024.
