The Stock Exchange of Thailand (SET) will start operating Live, a fund-raising platform for startup companies, in the beginning of 2018 to let institutional investors and high-net-worth angel investors take part.
The new platform will operate under the SET subsidiary company Live Fin Corp, said SET senior executive vice-president Santi Kiranand.
Live is a platform for startup trading based on the blockchain concept. Earlier, SET president Kesara Manchusree said that because startup businesses have high investment risk, investors using this platform will have to be accredited and have shrewd investment knowledge.
"The trading platform and system have already been completed," Mr Santi said. "We just want to make sure that the internal process and risk management related to all market participants, such as issuers and investors, are well protected."
The platform's debut was postponed from its planned third-quarter launch.
Many startups are looking to raise funds from the new platform, Mr Santi said.
In related news, the number of initial public offering (IPO) deals is expected to exceed 40 this year, including 25 SET-listed firms, 17 companies listing on the Market for Alternative Investment (MAI) and the rest real estate investment trusts (REITs), Mr Santi said.
In 2016 there were 27 new listings, including 10 firms on the SET, 13 on the MAI and four REITs.
"The economic recovery is a major factor igniting IPO deals this year, as businesses want to raise funds for business expansion," Mr Santi said.
The momentum of IPO deals is expected to continue next year, with many IPO issuances above 10 billion baht expected, he said.
The market capitalisation of the services sector makes up about 30% of the stock market as a whole. The ratio has changed from the past, when the energy and information and communication technology sectors dominated capitalisation.