Annual Report 2017

29 for SMEs and startup entrepreneurs to access funding sources. In addition, SET also developed FundConnext to provide investors with convenient access to mutual fund and to support the growth of the Thai mutual funds industry. To align with the global exchanges, SET has also upgraded the post-trading services by moving to a two-day settlement cycle (T+2) from T+3. SET’s role on the global stage has also been enhanced such as the hosting of the World Federation of Exchanges (WFE) 57 th General Assembly & Annual Meeting in 2017, following the SET President’s being elected to the WFE Board of Directors in 2016. The series of success both in quality and quantity has been a major driving force in reinforcing SET’s leading role in the region. The heart of such success originated from the synergy of SET’s operations with cooperation from capital market partners in implementing the strategic plan for sustainable development according to the following three key strategies: 1. Fund-Raising Cultivator In 2017, SET encouraged businesses to further capitalize the capital market and gain benefits more extensively. As a result, businesses in various industries nationwide raised funds via The Stock Exchange of Thailand. For the first time, foreign securities were listed on SET. In addition, SET has created more opportunities in terms of sources of funds for new startup entrepreneurs and SMEs, while enhancing knowledge and promoting potential of listed companies to grow quality wise, resulting in continued expansion of related industries, as such enhancing the country’s economic growth. 1.1 Encouraging the listing of quality securities In 2017, there were 42 initial public offerings (IPOs) of securities on SET and mai. The IPOs had a phenomenal record-setting total market capitalization of THB 426.35 billion, the highest in ASEAN-5, a significant factor in the expansion of the size of the Thai stock market. Of these IPOs, 25 were listed on SET and 17 on mai. In 2017, companies raised funds through IPOs totaling THB 106.28 billion. The cumulative capital raised via IPOs from 2014 - 2017 was considered the highest amount in the ASEAN-5. SET has always facilitated and prepared potential businesses to become listed. In 2017, large-sized securities raised funds through IPOs, consisting of Gulf Energy Development pcl (GULF) with market capitalization of THB 96 billion, considered an IPO with the highest value in 16 years; TPI Polene Power pcl (TPIPP) valued at THB 58.80 billion; TOA Paint (Thailand) pcl (TOA) at THB 48.70 billion; and B.Grimm Power pcl (BGRIM) at THB 40.67 billion. In addition, SET has also played an important role in promoting the growth of entrepreneurs under the Thailand 4.0 government policy, aiming to drive the nation’s economic expansion. In this regard, four companies in the Health Care Services sector were listed. There were 17 small and medium-sized firms listed on Market for Alternative Investment (mai), most of which were in the Services, Property and Construction industrial groups. It is apparent that the Thai capital market has successfully served as a source for raising capital for the benefit of entrepreneurs and business operators. In 2017, SET expanded its role to provide fundraising channel for various firms in the region. This was the first year that foreign securities were fully listed on SET: Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust (SHREIT), REIT that invests in leading hotels in Indonesia and Vietnam.