Bangkok--7 Oct--SET
“The 13 firms which listed on The Stock Exchange of Thailand (SET) and the Market for Alternative Investment (mai) this year recorded an average return from their IPO prices as of October 2 of 32%, including dividends (if any). These IPOs raised funds of THB5.66 billion (approx. USD169.22 million) and increased market capitalization by THB32.72 billion (approx. USD978.41 million),” revealed SET Group Head, Issuer & Listing Chanitr Charnchainarong.
SET’s six newly-listed firms recorded an average return of 22%. If investors had participated in the IPO and closed out their positions at the close of the first trading day, their average return would have been 5.64%. But if the IPO buyers had held out until closing on October 2, their average return would have been 19.89%. The companies which listed on SET in 2009 mobilized THB4.85 billion (approx. USD145.07 million) from selling IPO stocks.
The average return on mai’s seven newly-listed firms was 40%. If buyers of IPO shares had sold out at the end of the first trading day, their average return would have been 22.67%. If, on the other hand, they had held out until closing on October 2, their average return would have been 35.89%.The companies listing on mai this year raised THB807 million (approx. USD 24.13 million) from selling IPO stocks.
Eight firms which listed on SET or mai this year have paid dividends already. This number included four which declared dividends based on their performances in 2008: Absolute Impact PCL (AIM), which paid dividends of THB0.07/share; Asia Green Energy PCL (AGE), paying THB0.50; Thai Polycons PCL (TPOLY), paying THB0.10; and Halcyon Technology PCL (HTECH), paying THB0.136. Four newly-listed firms paid dividends for their H1/2009 performances, i.e., Toyo-Thai Corporation PCL (TTCL), paying dividends of THB0.15/share; Jay Mart PCL (JMART), paying THB0.08; SenaDevelopment PCL (SENA), paying THB0.076; and Qualitech PCL (QLT), paying THB0.15.
Currently, five companies are setting their IPO and listing dates, while eight are awaiting Securities and Exchange Commission (SEC) approval. If the candidates receive approval within 2009 and the political and economic situations are favorable, SET expects at least 20 firms to list. If this figure comes true, it will be a higher than the 13 firms of 2007 and the 12 companies of 2008.
“Due to negative factors affecting this year’s trading activities, some companies delayed their listings which were scheduled for early 2009. Thai bourse’s 13 listings for 2009 through September compares favorably with the achievements of other bourses in the region, e.g., Hong Kong Stock Exchange (HKEX) has 24 new listings this year, Singapore Stock Exchange (SGX) has 15 , and Bursa Malaysia Stock Exchange (KLSE) has 6,” concluded Mr. Chanitr.