Despite unrest: Thailand seeks to lure foreign IPOs

Reading Time: 2 minutes

SETEven though the Stock Exchange of Thailand (SET) has just narrowly avoided a siege of its headquarter in Bangkok during the latest anti-government protests, the bourse is now embarking on a major promotional drive to attract foreign firms to launch initial public offerings (IPOs) in Thailand.

The country will allow IPOs of foreign companies for the first time as its equity market seeks to compete with Hong Kong and Singapore as a regional hub for stock listings. Several Chinese companies have already expressed interest in selling shares in Thailand, and rules for the offerings will be announced this quarter, Vorapol Socatiyanurak, the secretary general of Thailand’s Securities & Exchange Commission (SEC), said on January 21.

While Thailand’s $341 billion equity market is about a tenth the size of Hong Kong’s, growing interest in stocks from the Southeast Asian country’s 67 million people led them to pour $2.7 billion into the market in 2013. The benchmark SET Index trades at a valuation premium over the Hang Seng Index and Singapore’s Straits Times Index, even amid anti-government protests and a current state of emergency in Bangkok.

The regulator will also allow trading of depository receipts linked to large foreign companies such as Apple Inc and Google. Thailand will require foreign companies seeking Bangkok listings to have at least two Thai citizens on their boards. Financial statements must be endorsed by auditors who are certified by the local regulator.

Policy makers will promote Thailand as a funding destination for nearby countries with less-developed capital markets such as Laos, Myanmar and Cambodia. Thailand is in talks with Myanmar’s finance ministry on the sale of baht-denominated bonds to Thai investors.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Even though the Stock Exchange of Thailand (SET) has just narrowly avoided a siege of its headquarter in Bangkok during the latest anti-government protests, the bourse is now embarking on a major promotional drive to attract foreign firms to launch initial public offerings (IPOs) in Thailand.

Reading Time: 2 minutes

SETEven though the Stock Exchange of Thailand (SET) has just narrowly avoided a siege of its headquarter in Bangkok during the latest anti-government protests, the bourse is now embarking on a major promotional drive to attract foreign firms to launch initial public offerings (IPOs) in Thailand.

The country will allow IPOs of foreign companies for the first time as its equity market seeks to compete with Hong Kong and Singapore as a regional hub for stock listings. Several Chinese companies have already expressed interest in selling shares in Thailand, and rules for the offerings will be announced this quarter, Vorapol Socatiyanurak, the secretary general of Thailand’s Securities & Exchange Commission (SEC), said on January 21.

While Thailand’s $341 billion equity market is about a tenth the size of Hong Kong’s, growing interest in stocks from the Southeast Asian country’s 67 million people led them to pour $2.7 billion into the market in 2013. The benchmark SET Index trades at a valuation premium over the Hang Seng Index and Singapore’s Straits Times Index, even amid anti-government protests and a current state of emergency in Bangkok.

The regulator will also allow trading of depository receipts linked to large foreign companies such as Apple Inc and Google. Thailand will require foreign companies seeking Bangkok listings to have at least two Thai citizens on their boards. Financial statements must be endorsed by auditors who are certified by the local regulator.

Policy makers will promote Thailand as a funding destination for nearby countries with less-developed capital markets such as Laos, Myanmar and Cambodia. Thailand is in talks with Myanmar’s finance ministry on the sale of baht-denominated bonds to Thai investors.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid