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Information &
Communication Technology
Property
Derclopment
Property
Fund & REITS
Construction
Services
Media &
Publishing
Others
27%
40%
Fundraising value in 2012 - 2014
by sector (unit: percent)
18%
6% 5%
4%
The year 2014 also marked the success of mai
in serving as a fundraising venue for medium and
small-scale enterprises to expand and enhance business
opportunities in order to achieve sustainable growth.
There were 20 new listed companies raising funds via
IPO with total value of THB 9.92 billion, the highest
record in 15 years since mai’s inception. In addition,
it was the first year that the coverage of stock analysis
could extend to 51 mai-listed firms, the highest
number to-date, resulting from the signing of agreement
on April 2014 with 11 leading securities companies
to analyze securities listed on mai.
In addition, mai launched the classification of its
listed securities in eight industry groups, according
to the nature of business of each company, using the
same classification criteria as SET, which will reflect a
clearer overview of mai listed firms, starting from 2015.
Development of regulations facilitating
listing of foreign firms
SET has continuously cooperated with the Securities
and Exchange Commission (SEC) in developing
regulations to facilitate the listing of securities for foreign
companies. In fact, SET has already set the regulations to
facilitate the listing of foreign companies’ securities
that are currently trading in foreign markets (secondary
listing) since 2009, under the condition that the said
companies must have been listed on foreign stock
exchange markets for not less than three years, with
minimum market capitalization of THB ten billion.
In 2014, SET pushed forward the adjustment of
regulations for more flexibility, by taking out the minimum
requirement for listing duration in foreign market and
market capitalization, while maintaining the conditions
of the paid-up capital and performance at the same
level as the Thai listed firms.
Moreover, SET provided more options for foreign
companies to get listed in Thailand without prior listing
in foreign markets (primary listing), which will enable
competitiveness of Thailand’s stock market globally. It
is expected that SET will accept foreign company listing
in 2015. On top of that, foreign companies handling
infrastructure business can get their securities listed
in the form of infrastructure trust. SET and the SEC are
now drafting the regulations governing infrastructure trust
to promote fundraising for infrastructure development
in foreign countries, by getting their infrastructure trusts
listed on SET. The drafting regulations are expected to
be ready in Q1/2015.
Promotion of fundraising
and financial instruments
In 2014, listed companies on SET and mai
used financial instruments for fundraising, totaling
THB 166.88 billion, a slight increase from the year
before. This resulted from SET’s commitment in
creating understanding about financial instruments
among listed firms combined with the listed firms’
continuous information distribution to investors. There
was increasing number of listed firms in the second half
of 2014, due mainly to the more favorable condition
of the stock market, both in terms of SET Index and
securities trading liquidity. Among the listed firms
that wanted to increase capital, 47 percent of the
amount fundraised from the existing shareholders, 36
percent via private placement and 16 percent via other
fundraising methods, covering warrants, convertible
bonds, preferred bonds and dividend stocks.
Source: SETSMART