Pattaya Daily News

18 March 2009 :: 11:03:22 am 3386

SET Plans to Reduce Listed Companies

Stock Exchange of Thailand (SET) president Pattareeya Benjapolchai on Tuesday announced that SET plans to decrease the target number of companies seeking initial public offerings (IPO) of shares both on the bourse and the Market for Alternative Investment (MAI) following the first quarter of this year.
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Bangkok, the 18th of March 2009 [TNA]: The exchange had earlier set a target to draw 46 companies for listing on SET and MAI this year.

She said the number of IPO shares to be listed on SET in 2009 is likely to miss the earlier target given the current unfavourable investment sentiment in the market.

However, the number of IPO shares to be listed on the MAI is expected to reach the target because many small firms want to raise funds despite the sluggish economy.

She predicted that at least 11 companies would have their IPO shares listed on MAI this year. The number is not outpaced by that of last year, despite the business climate.

At the same time, SET is poised to revise the trading volume of shares set for this year at Bt13.5 billion per day on average. She said stock investment had been quite volatile since January, causing the daily trading value to decline to Bt10 billion on average in that month and Bt6 billion in February.

Most investors had adopted a wait-and-see attitude until the country’s economic conditions clearly improve, she added. (TNA)

Reporter : Methawee   Photo : Methawee   Category : Business News

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