Thailand’s stock market performs strongly in January hinh anh 1The Stock Exchange of Thailand (SET) performs strongly in January 2023 with companies continuing to mobilise fund through the bourse in various forms. (Photo: coindesk.com)

Bangkok (VNA) – The Securities and Exchange Commission of Thailand (SEC) on February 14 said that the Stock Exchange of Thailand (SET) performed strongly in January 2023 with companies continuing to mobilise fund through the bourse in various forms to expand their business.

According to SEC, last month, three securities issued initial public offerings (IPO) with a total value of 3.43 billion THB (101.32 million USD).

About 14 companies are having their listing application vetted while other 74 companies are in the consulting process to raise fund from the stock market.

Regarding fundraising via crowdfunding, 16 companies have completed their projects worth 537 million THB, bringing the total of such companies to 380 with 6.29 billion THB raised through crowdfunding.

Nineteen small and medium-sized enterprises (SMEs) have completed the private placement (PP) fundraising phase by 2022. To date, 19 SMEs have completed the PP offering phase with total value of 272 million THB.

For corporate bonds, long-term bonds worth 1.26 billion THB were issued last year, of which 1.16 billion THB were investment-grade bonds and 98 billion THB were high-yield bonds.

According to SET, trading volume on the Thai stock market is still the highest in the Association of Southeast Asian Nations (ASEAN).

In January, the average daily turnover on the main stock market and the Alternative Investment Market totaled 72 billion THB, up from 56.2 billion THB a month earlier, but down 23 .7% over the same period last year.

Also during this period, foreign investors were net buyers for the fourth consecutive month, spending 19 billion THB on Thai securities.

Soraphol Tulayasathien, SET senior executive vice-president said that the SET’s market capitalisation ranks third in ASEAN and that if more companies continue to list on the bourse, the SET can potentially overtake Singapore for top market cap in ASEAN.

As of December, Singapore led ASEAN in market capitalisation with 619 billion USD, followed by Indonesia with 614 billion USD, Thailand 604 billion USD, Malaysia 381 billion USD and the Philippines 239 billion USD./. 

VNA