Fourth quarter to see many companies launch IPOs
Several listed companies aimed to launch initial public offerings (IPOs) by the fourth quarter of this year, the Stock Exchange of Thailand (SET) said.
Manpong Senanarong, SET's senior executive vice president, said the Securities and Exchange Commission (SEC) has allowed up to 17 companies listed on the SET and the Market for Alternative Investment (MAI) to launch IPOs, adding that 14 listed companies were waiting for the SEC's approval to launch their IPOs.
"Normally, listed companies will request IPOs during the fourth quarter of every year because they have to report the second-quarter performance to the SEC first," he said. "If the government is able to contain the spread of Covid-19, more listed companies would request IPO launches."
Meanwhile, Worachat Thuaycharoen, managing director at Finnex Advisory, acting as financial adviser of Silicon Craft Technology (SICT), said the SICT would list on the MAI on July 30 this year after launching 100 million IPO shares at Bt1.38 per share from July 21 to 23. The SICT's performance in the past 12 months (April 1, 2019 to March 31, 2020), gave it a price to earnings of 14.66 times.
"Several investors have subscribed to the SICT's shares because it is the first deep technology company that will be listed on the Thai stock market," he said. "SICT runs a microchip research and development business in which 100 per cent of the company's sales came from foreign countries."
He added that I&I Group, a digital and technology consulting company will launch 25 million IPO shares and list on the MAI by the end of this year or the beginning of the next year.
