Thailand’s leading arranger of initial public offerings since 2021 is targeting companies from neighbouring Vietnam and Cambodia for listing on the Bangkok bourse to counter a slump in domestic stock sales, though nationalism is one obstacle.
Kiatnakin Phatra Bank Plc is working with several Southeast Asian firms to tap investors through the Stock Exchange of Thailand, said Anuwat Ruamsuke, head of investment banking and capital markets. While businesses are keen on IPOs and cross-border listing, some regulators in the region are less helpful, he said, without specifying company names or countries.
“Thailand’s market breadth and depth has drawn strong interest for IPOs here because of better valuations,” Anuwat said in an interview. “We are trying to expand across regional capital markets using our expertise and leadership in the Thai market.”
