Local market sentiment remains positive, with 34 potential new listings on Thai bourses including some leading businesses.
As well, for the first time ever a holding company that only operates internationally will list.
Chanitr Charnchainarong, an executive vice-president of the Stock Exchange of Thailand (SET), said a total of 14 of the potential listings are now in the process of submitting filings with the Securities and Exchange Commission (SEC).
The other 20 hopefuls are planning to file no later than this year's second quarter.
He said of the 14 now in the process of applying, five companies and one infrastructure fund will seek a listing on the SET and the other eight will list on the Market for Alternative Investment (MAI).
Chanitr: Greater variety of IPOs
The other 20 submitting filings in the second quarter include 10 companies, four property funds and one infrastructure fund for the SET and five companies opting for the MAI.
This year's initial public offerings (IPOs) will see a greater variety of products including a holding firm that only conducts business abroad.
The name of this company, which operates projects in Laos and Vietnam, has not been disclosed yet, but officials feel certain that it will prove a popular listing.
This year will also be the last one for property funds to list before long-awaited changes in rules for such funds by the Real Estate Investment Trust.
The kick-off of infrastructure funds is highly anticipated this year, with several in the pipeline seeking to list on the SET.
These include for rail transport, with the BTS Growth Infrastructure Fund (BTSGIF) from the skytrain operator, which will enjoy revenue from its 23.5-kilometre line under a concession lasting another 17 years.
These new products will continue the momentum of the boom in IPOs, which were very active in 2012.
Last year 18 newly listed firms raised 52.5 billion baht through the market.
Eight of these listed on the SET and the other 10 on the MAI. As well, there was one backdoor listing or reverse takeover and six property funds.
VGI Global Media was the largest market capitalisation among the new listings, at 26.4 billion baht.
The Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) was the largest market capitalisation for a property fund, coming in at 27.8 billion baht.
Total IPO market capitalisation last year stood at 722 billion baht, up by 119% from 329 billion in 2011.
The 2012 IPOs brought new investors into the market for 4,800 additional accounts. Of these, 3,000 accounts were with the MAI and the rest with the SET.
About the author
- Writer: Nuntawun Polkuamdee
Position: Business Reporter