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Investment Bankers Urge Thai Firms to Speed IPO Plans to Avoid Market Jam.
Byline: Nuntawun Polkuamdee
Dec. 3--With several large state enterprises planning to float shares on the stock exchange next year, investment bankers have been pushing clients to move forward listing plans to avoid getting squeezed in the market.
While the Stock Exchange of Thailand has confidently predicted up to 50 new listings on the exchange in 2003, industry experts say that firms would do better to take advantage of improved market sentiment now rather than compete for investor attention with bigger firms next year.
The initial public offering market is expected to be dominated in 2003 by state agencies such as the TOT Corp and Airports of Thailand, the state fixed-line operator and airport operator respectively.
State-owned Krung Thai Bank and Thai Airways International are also planning new public offerings in 2003.
Prasert Voradilok, president of IFCT Advisory, said market expectations were that these giant state enterprise deals would pull considerable funds from the market in the short term.
The result has been a rush by several firms to complete IPOs and list on the SET or the Market for Alternative Investment by the end of the month, including property firm Charn Issara Development, financial services company Trinity Holding, used-car specialist Ratchthani Leasing and Siam Future Development.
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Byline: Pitsinee Jitpleecheep Jul. 12--Siam Future Development Plc (SF), the SET-listed retail developer...Pattaya Avenue in Pattaya and Major Avenue Ratchayothin. Siam Future and the Major Cineplex Group, the country's largest...
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Byline: Sukanya Jitpleecheep Feb. 11--Siam Future Development Plc, the SET-listed developer of shopping malls, will spend 400 million baht developing two new lifestyle shopping...
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Jun. 10--Siam Future Development Plc (SF), the largest local developer of open-air shopping centres, is seeking to raise more than 400 million...
- Thailand Developer in Weak Debut on Market for Alternative Investment.
- Newspaper article from: Knight Ridder/Tribune Business News December 18, 2002 700+ words
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...Aug. 13--Two years after its launch, the Market for Alternative Investment is now trading at its highest levels ever, closing Monday...she said. Still, she noted that some stocks, such as Siam Future Development and Brooker Group, had seen considerable price...
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- Newspaper article from: Knight Ridder/Tribune Business News December 9, 2002 700+ words
...Leasing on the main board, as well as Siam Future Development on the Market for Alternative Investment. Firms listing by the end of the year...said Ms Sopawadee. Charn Issara, Siam Future Development, Trinity Wattana, and Ratchthani...
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- Newspaper article from: Knight Ridder/Tribune Business News August 20, 2003 700+ words
...with property developer Siam Future Development Plc (SF...mall" concept in which Siam Future specialises. Vicha Poolvaraluck...18.28 million baht. Siam Future shares closed on the Market for Alternative Investment at 6.15 baht, up 15...
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- Newspaper article from: Knight Ridder/Tribune Business News December 19, 2002 700+ words
...Engineering, Charn Issara Development and Siam Future Development -- all have seen their...IPO price of 6.10 baht. Shares of Siam Future Development ended on the Market for Alternative Investment at 4.04 baht, with its warrants closing...