Thai bourse plans to add $16b in market cap via IPOs, secondary listings in 2021

Stock prices are displayed on an electronic stock board at the Stock Exchange of Thailand (SET) in Bangkok, Thailand, on Friday, June 22, 2018. Photographer: Brent Lewin/Bloomberg

The Stock Exchange of Thailand on Friday said it was seeking to boost its market capitalisation this year by 500 billion baht ($16.61 billion) through initial public offerings (IPOs) and secondary listings.

Last year, the market capitalisation of IPOs in Thailand was 555 billion baht, the exchange said in a statement.

That was driven by the country’s largest listings, Central Retail Corporation Pcl and SCG Packaging Pcl, each raising over $1 billion.

“The target for new listings is high, similar to the last two years,” said the head of the exchange’s Issuer and Listing Division, Manpong Senanarong.

The index also hopes to attract foreign listings from neighbouring countries and support fundraising for small businesses and startups, he said.

The total market capitalisation of the Thai index is currently 16.62 trillion baht ($551.79 billion) according to Refinitiv data.

State-owned energy firm PTT Pcl plans to launch a $1.5 billion to $2 billion IPO of its retail and oil arm in 2021, Refinitiv IFR reported.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.