<article>Undeterred by the economic slowdown and a fluctuating stock market, over a dozen of Thai firms are in a queue to launch their initial public offers to tap the market for capital-raising.</article>

Undeterred by the economic slowdown and a fluctuating stock market, over a dozen of Thai firms are in a queue to launch their initial public offers to tap the market for capital-raising.
In the last quarter of 2015, nearly 14 companies have submitted the filing to launch their IPOs while one real estate investment trust (REIT) is in the waiting list. Some of these firms that are bullish on the stock market include Ladprao General Hospital, Raja Ferry Port and JAS Asset, who are scheduled to launch their IPO in the fourth quarter this year.
About 29 companies in Thailand have raised a total of 114.87 billion baht ($3.25 billion) till October, a sharp rise compared to total IPO value of 65.65 billion baht ($1.86 billion) from 36 firms in 2014.
Even though there are external negative issues that have to be monitored, Patchpon Sankaburanuruk, executive vice president of <a style="color: #000080;" href="http://www.kgieworld.co.th/en/">KGI Securities (Thailand)</a>’s Investment Banking Department, is optimistic that the IPO market remains attractive because it gives a good return on investment.
“Investors may become more selective for investing in IPO stock because of the market fluctuation and the economic slowdown. Still, I believe that there will be no concern for those companies with good fundamentals,” she told <a style="color: #000080;" href="http://www.dealstreetasia.com">DEALSTREETASIA</a>.
Of total 29 firms this year, 17 are listed on the <a style="color: #000080;" href="http://www.set.or.th">Stock Exchange of Thailand </a>(SET), eight are on Market for Alternative Investment (MAI), two are infrastructure funds and the other two are REITs. Most of them are in the energy, property, and hospitality sectors.
<figure id="attachment_16257" aria-describedby="caption-attachment-16257" style="width: 704px" class="wp-caption alignleft"><a href="http://www.dealstreetasia.com/wp-content/uploads/2015/10/IPOTHAILAND.png"><img loading="lazy" decoding="async" class="wp-image-16257 size-full" src="http://www.dealstreetasia.com/wp-content/uploads/2015/10/IPOTHAILAND.png" alt="IPOTHAILAND" width="704" height="746" /></a><figcaption id="caption-attachment-16257" class="wp-caption-text">Thailand IPO</figcaption></figure>
In the beginning of this year, the SET targeted a market capitalization at 250 billion baht this year. So far, it has already achieved 216.69 billion baht ($6.14 billion).
In the first quarter of this year, the IPO market was seen as the rising star for the Thai economy. However, some companies delayed their IPOs because of Bangkok’s biggest bomb blast in August and other uncertain factors such as the slowdown in the US and China as well as the changing of the Cabinet.
“The sooner the measure of promoting foreign fund flows into the stock market is launched, the faster the market recovery is,” Patchpon said. “Also, we have to monitor the interest rate if it will be increased or not.”
Launching the IPO next month, <a style="color: #000080;" href="http://www.jasasset.co.th/">JAS Asset</a>’s chief executive officer Nongluck Luksanapokin is not worried as she believes that investors will pay attention to the company’s fundamental rather than external factors.
“We prefer long-term investors to speculators or short-term ones. Therefore, long-term investors will understand that they [external factors] change all the time,” the CEO cited.
Meanwhile, a plenty of the executives have voiced their concerns, in media reports, that the government should accelerate spending to spur growth.
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Over a dozen of Thai firms are queueing up to tap the capital market among the economic slowdown and the swing of the stock market.

Thai IPO market boom to continue till next year, firms mop up $3.25b so far

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Thai IPO market boom to continue till next year, firms mop up $3.25b so far

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