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Published on December 12, 2007

CEO Chanitr Charnchainarong said yesterday that the past three months saw six companies join the MAI. Its market cap was Bt37.14 billion as of last Friday.

The MAI index closed at 268.34 points, off 0.63 per cent, on volume of Bt575.5 million. The SET index closed down 0.11 per cent at 840.45 on turnover of Bt15.36 billion. Since early this year, the MAI has hosted trading worth Bt76.38 billion, or Bt329.21 million per day on average, up threefold from Bt27.42 billion or Bt112.81 million per day last year.

Proceeds from initial public offerings (IPOs) so far this year totalled Bt2.3 billion.

Chanitr said if the new government promotes greater access to capital markets for SMEs, the MAI would become more active. About 90 per cent of MAI firms are family-owned.

Next year, Chanitr expects 10-15 companies to list on the MAI.

Yesterday, Body Glove (Thailand) Plc debuted on the MAI, closing at Bt4.64, down from its IPO price of Bt4.7. Nobpadol Tumwattana, chairman of the casual wear retailer, said he does not worry that the company's stock fell below the IPO price as it moved with the market mechanism.

Simat Technologies will start trading today on the MAI. Its IPO price was Bt3.8. The company's net profit for the third quarter was up by 45 per cent year on year. Kasemsit Pathosak, CEO of Merchant Partners Securities, said his company was aiming for a first-quarter listing on the MAI with BFIT Securities as its financial adviser.

The company will issue 100 million new common shares with a par value of Bt1 per.

Siriporn Chanjindamanee

 The Nation