Comments Off on 2013 Expected To Be A Record For IPOs
As the benchmark SET index continues to reach record highs, 2013 is expected to be a record year for IPOs according to the Stock Exchange of Thailand. Newly listed companies on Thailand's SET and Market for Alternative Investment (MAI) are expected to have a combined market capitalization in excess of 120 billion Thai Baht (approximately equal to USD 4 billion).
Since the beginning of 2013, four companies with a combined market capitalization of 22 billion baht have already launched their IPOs (three on the MAI and one on the SET), seven companies have submitted filings to launch their IPOs, and an additional ten companies are expected to submit filings for listings in April and May, according to an article in the Bangkok Post. Manufacturers, holding companies, infrastructure funds and real estate investment trusts are considered possible IPO candidates.
The SET's market capitalisation has been growing rapidly the past five years amid strong profit growth of its component companies. The combined revenue of listed companies in 2012 jumped almost 14% while net profits rose by 15.7% compared to 2011, with companies in the resources, finance, and property and construction sectors the most profitable.