Thai IPOs under 10 companies this year due to market volatility

MGR Online•Economy•2d ago

Reader Briefing

Market volatility and external negative factors have led to a decline in the number of new companies pursuing IPOs in Thailand for the year.

•Only two companies have completed IPOs so far this year, with one more currently open for subscription.
•The SEC reported that since January 1, 2026, only one company has offered IPO shares out of six authorized and ready securities.
•The Stock Exchange of Thailand's goal of 10 new listed companies this year is unlikely to be met.
•Factors hindering the market include the Middle East conflict, fluctuating global interest rates, and stricter exchange requirements.

Overview

•Global stock indices have faced volatility due to war and rising oil prices, causing a slowdown in global economic activity.
•Unique Plastic Industry (UNIX) entered the Stock Exchange of Thailand (SET) on April 2, with a closing price of 1.94 baht on its first day, exceeding its 1.89 baht IPO price.
•Group Phat (PHAT) traded on August 20, closing its first day at 1.82 baht, which was 9.00% lower than its 2.00 baht IPO price.
•Frontline Engineering (FLE) opened IPO subscriptions from August 21 and August 24-25, 2026, and expects to list on the mai in September.
•Five companies, including Thai Nam Thip Corporation (TNCC), Thai Eastern Bio Power (TEBP), and Petpal Products (PETPAL), have filed for IPOs with some receiving SEC approval.
•Business owners have delayed IPO plans due to the prolonged Middle East conflict, poor financial performance relative to criteria, and stricter Stock Exchange of Thailand regulations.
•Investor confidence has decreased as some new IPO stocks have traded below their offering price on the first day.

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Key Entities

Organization

Securities and Exchange Commission(สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์)ℹ️

The regulatory body providing IPO statistics and approving filing forms.

SEC(ก.ล.ต.)

The regulatory body that approves IPO filing forms.

Stock Exchange of Thailand(ตลาดหลักทรัพย์แห่งประเทศไทย)ℹ️

The stock exchange where companies like UNIX and PHAT list their shares.

SET

The primary stock market in Thailand.

mai

The market for smaller and medium-sized enterprises in Thailand.

Unique Plastic Industry(บมจ.ยูนิคพลาสติก อินดัสตรี)

A manufacturer and distributor of plastic films and packaging (UNIX).

Group Phat(บมจ.กลุ่มภัทร)

A business operator in crude palm oil extraction and distribution (PHAT).

Opt Asia Capital(บริษัท ออพท์เอเชีย แคปิตอล จำกัด)

The financial advisor for Group Phat.

Frontline Engineering(บมจ. ฟร้อนท์ไลน์ เอ็นจิเนียริ่ง)

A provider of comprehensive water pumping and drainage systems (FLE).

Fin Plus Advisory(บล. ฟิน พลัส แอดไวเซอรี่)

The financial advisor for Frontline Engineering.

Thai Nam Thip Corporation(บมจ.ไทยน้ำทิพย์ คอร์ปอเรชั่น)

A beverage bottling and distribution company for Coca-Cola and Schweppes (TNCC).

The Coca-Cola Companyℹ️

A company with a distribution contract with Thai Nam Thip Corporation.

Schweppes Holdings Limited

A company with a distribution contract with Thai Nam Thip Corporation.

Finansa(บล. ฟินันซ่า)

The financial advisor for Thai Nam Thip Corporation.

Thai Eastern Bio Power(บมจ. ไทยอีสเทิร์น ไบโอ พาวเวอร์)

A manager of organic waste and producer of biogas and electricity (TEBP).

KGI (Thailand)(บล.เคจีไอ (ประเทศไทย))

The financial advisor for Thai Eastern Bio Power.

Petpal Products(บมจ. เพ็ทพัล โปรดักส์)

A manufacturer of dry pet food (PETPAL).

Maybank (Thailand)(เมย์แบงก์ (ประเทศไทย))

The financial advisor for Petpal Products.

Quick Transformation(บมจ. ควิก ทรานส์ฟอร์เมชั่น)

An end-to-end digital transformation service provider (QUICK).

Jay Capital Advisory(บริษัท เจย์ แคปปิตอล แอดไวเซอรี จำกัด)

The financial advisor for Quick Transformation.

Grand Cos Group(บมจ. แกรนด์ คอส กรุ๊ป)

A developer and distributor of cosmetic products under brands such as MERREZ'CA (MER).

Advisory Plus(บริษัท แอดไวเซอรี่ พลัส จำกัด)

The financial advisor for Grand Cos Group.

Place

Middle East(ตะวันออกกลาง)ℹ️

Region where tensions and war have caused global stock market volatility.