Published On: Sun, Jun 23rd, 2013

Thai Alternative Bourse Enters 15th Year With Record High Market Cap

Chanitr Charnchainarong President-Market for Alternative Investment (mai)

Chanitr Charnchainarong President-Market for Alternative Investment (mai)

The Stock Exchange of Thailand’s Market for Alternative Investment (mai) enters its 15th year with a record market capitalization of THB 200 billion (approx. USD 6.67 billion) and an average daily trading value of THB 3 billion (approx. USD 100 million) per day, while market liquidity continues to increase.

Chanitr Charnchainarong, mai president, said: “The alternative bourse has celebrated 14 years of operation and is ready to step into its 15th year on June 21, 2013 with a key role as the place where medium-sized entrepreneurs can raise capital to enhance their potential and opportunities to expand sustainably and become a vital foundation for the Thai economy. During the past 14 years, mai has enabled as many as 103 listed companies to raise THB 48.28 billion
(approx. USD 1.61 billion), excluding the market capitalization of 13 SET-listed companies which used to trade in mai, for a total of THB 70 billion (approx. USD 2.33 billion). The mai has also demonstrated its potential through the
constant growth in sales and profits of listed firms. Accordingly, the market’s liquidity has continued to increase, enabling the mai index to close at its all-time high of 510.44 points on March 18, 2013, with this year’s average daily
trading value of THB 3 billion (approx. USD100 million), higher than in its first year of operation, when the average daily trading value was THB25 million (approx. USD 83,333).”

“The mai has recorded constant growth in its market capitalization, from THB 427 million (approx. USD 14.23 million) in its first year of operation to its current market cap of around THB 200 billion (approx. USD6.67 billion) as a result of increasing numbers of listed companies which have regularly been raising funds to expand their businesses, utilizing various financial instruments to boost their liquidity,” Chanitr added.

In 2013, the amount of capital raised in mai and the number of used financial instruments is expected to hit a record level. The amount of raised capital in the first half of this year, excluding 13 companies in the listing process, was
at THB 13.72 billion (approx. USD 457.30 million) – which almost reached the figure of all of last year. At the same time, more companies have utilized available financial instruments. The number of used financial instruments increased to 37 instruments – which were also higher than last year’s figure – especially stock dividend, warrant and employee stock ownership plan (ESOP).

“The mai is determined to support all listed firms to expand in a sustainable manner, with transparent management, good corporate governance and corporate social responsibility, while collaborating with executives of the mai-Listed
Companies Association (maiA) in pushing all firms towards achievement” Chanitr concluded.

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