Bangkok: The Stock Exchange of Thailand (SET) has projected a significant increase in initial public offerings (IPOs) for 2026, surpassing the number recorded in 2025, as large companies prepare to enter the market.
According to Thai News Agency, Mr. Sorawit Krairiksh, Deputy Managing Director of Issuer and Marketing Division at SET, disclosed that the anticipated rise in IPOs is expected to exceed the fundraising levels of 2025, during which only 17 companies were listed. He noted that 2025 marked a low point for fundraising, but optimism surrounds 2026 with at least one major company already filing for capital raising and another preparing to do so.
Mr. Sorawit attributed the drop in the number of listed companies in 2025 to unfavorable stock market conditions, which led to many companies delaying their fundraising efforts. He also addressed concerns about IPO share prices falling below their initial offering price on the first day of trading, stating that such declines do not necessarily indicate excessively high IPO pricing. Instead, he emphasized that various factors, including trading stimuli and market conditions on the first trading day, should be considered by investors.
At the start of 2025, only 17 companies had listed on the SET and mai, with a combined market capitalization at the IPO price of 76.559 billion baht, a notable decrease from 2024's 32 companies with a market capitalization of 112.806 billion baht. Mr. Sorawit highlighted that many companies had submitted their listing applications in the previous year due to concerns over new, stringent listing criteria set by regulators like the Securities and Exchange Commission (SEC) and SET. These criteria focus on selecting high-quality companies, with the SET having adjusted its criteria and the SEC setting standards related to companies' internal control systems.