Bangkok (VNA) – The initial public offering (IPO) market of Thailand this year is expected to outperform 2022 as it has continued to recover after the COVID-19 pandemic, according to local media.
The Securities and Exchange Commission (SEC) of Thailand has amended rules and regulations, requiring companies applying for the IPO filing in 2024 to submit their annual financial statements for the last three years and the last quarterly financial statements. Therefore, the financial statements have to be prepared in accordance with the financial reporting standards and audited or reviewed (in the case of quarterly financial statements) by a certified public accountant approved by the SEC.
With the new rules, it may take longer for IPO preparation and cause many companies to expedite their registration process to be completed within 2024.
In 2022, Thailand’s IPOs raised the highest level of funds in Southeast Asia, with a total of 3.6 billion USD raised by 42 listing companies. Thailand's IPO market has shown great promise in recent years.
2023 is set to be another key year to keep an eye on IPO funding in an environment of intense competition.
As of February 28 this year, there were 75 cases in the process of pre-consultation with the SEC (only cases submitted in 2021), and the upcoming IPOs report for the first quarter reported 20 cases that were under review for filing or already approved. There have also already been 12 IPOs, higher than the number of IPOs in the same period of 2022, according to the SEC’s Monthly Capital Market Summary Report.
This implies that many companies are showing greater interest in listing in the stock exchange to issue shares for public offering. The benefits of listing for organisations have become increasingly clearer, including access to long-term financing, creating a credible image for the company, professional financial management, long-term resilience of the company, as well as increasing business opportunities in the future, local media noted./.
The Securities and Exchange Commission (SEC) of Thailand has amended rules and regulations, requiring companies applying for the IPO filing in 2024 to submit their annual financial statements for the last three years and the last quarterly financial statements. Therefore, the financial statements have to be prepared in accordance with the financial reporting standards and audited or reviewed (in the case of quarterly financial statements) by a certified public accountant approved by the SEC.
With the new rules, it may take longer for IPO preparation and cause many companies to expedite their registration process to be completed within 2024.
In 2022, Thailand’s IPOs raised the highest level of funds in Southeast Asia, with a total of 3.6 billion USD raised by 42 listing companies. Thailand's IPO market has shown great promise in recent years.
2023 is set to be another key year to keep an eye on IPO funding in an environment of intense competition.
As of February 28 this year, there were 75 cases in the process of pre-consultation with the SEC (only cases submitted in 2021), and the upcoming IPOs report for the first quarter reported 20 cases that were under review for filing or already approved. There have also already been 12 IPOs, higher than the number of IPOs in the same period of 2022, according to the SEC’s Monthly Capital Market Summary Report.
This implies that many companies are showing greater interest in listing in the stock exchange to issue shares for public offering. The benefits of listing for organisations have become increasingly clearer, including access to long-term financing, creating a credible image for the company, professional financial management, long-term resilience of the company, as well as increasing business opportunities in the future, local media noted./.
VNA
