Listing rules to be reviewed

Move driven by slump in Thai IPOs

- NUNTAWUN POLKUAMDEE

MR D.I.Y. Holding (Thailand) is among six companies to float shares on the SET this year. Combined with the MAI, there have been 17 IPOs in the Thai market this year.

The Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) are reviewing fundraising regulations as the prolonged sluggishness of the Thai stock exchange has prompted companies to seek overseas listings.

According to the SET, fundraising activity this year has declined sharply to around 13 billion baht, although total market capitalisation has increased by 70-80 billion baht.

For the first 11 months of the year, 17 companies raised funds through initial public offerings (IPOs) on the SET and the Market for Alternative Investment (MAI), said senior executive vice-president Soravis Krairiksh.

These IPOs had a combined offering size of roughly 12 billion baht, with a total market capitalisation of 76.7 billion baht. Two more companies are expected to list before the year-end, bringing the total offering size to around 13 billion baht, while aggregate market capitalisation is expected to remain below 100 billion baht.