BANGKOK, Dec 17 (Reuters) - Thailand’s stock exchange said on Thursday it expected initial public offerings (IPOs) this year to be worth 297 billion baht ($8.24 billion), above its target of 250 billion baht, boosted mainly by infrastucture funds.
A combined 38 listings on the Stock Exchange of Thailand and the smaller Market for Alternative Investment so far this year raised 284 billion baht ($7.88 billion), including 75.9 billion baht of two infrastructure funds .
The exchange expected company IPOs next year to be worth 270 billion baht ($7.49 billion) and a listing of a 100 billion baht ($2.77 billion) by the Thailand Future Fund in the year, Santi Kiranand, Head of Market Division, said during a press briefing.
“The 270-billion-baht target is for company IPOs. It is not including the large scale infrastructure fund which we also expect to see next year,” he said.
The Thai cabinet approved on Tuesday a plan to set up the Thailand Future Fund as the military government ramps up investment projects to help boost a sputtering economy.
The IPOs would help boost average daily trading value to about 50 billion baht ($1.39 billion) in 2016 versus the 44.5 billion baht estimate in 2015, President Kesara Manchusree said.
$1 = 36.0500 baht Reporting by Viparat Jantraprap; Additional reporting by Wirat Buranakanokthanasarn; Editing by Biju Dwarakanath