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Cookie Policy We use cookies to find out more about your use of our Site and your preference in order to improve our services to you. We may also use third-party cookies to provide summarized traffic data for enhancing our Site. More details No, ThanksAllow cookies HKMB Hong Kong Means Business * * Login / Register LANGUAGES * EN * 繁 * 简 * Events * My Feed * Contact HKTDC * Subscribe * Subscribe * SECTION MENU * Market Opportunities * Tech & Innovation * Entrepreneurship * Sustainability * Creativity & Lifestyle * HKTDC Updates * Featured Topics LANGUAGES * EN * 繁 * 简 * HKTDC.com | * About HKTDC | * My HKTDC | * Login / Register | HKTDC.com About HKTDC My HKTDC Login Register SECTION MENU * Market Opportunities * Tech & Innovation * Entrepreneurship * Sustainability * Creativity & Lifestyle * HKTDC Updates * Featured Topics https://hkmb.hktdc.com/en/1hexhSSZ Entrepreneurship SAVE FOR LATER SHARE / SEND × "Scan QR Code" in WeChat and tap "..." to share. FINANCE OPPORTUNITY FOR THAI FIRMS COMPANIES IN ONE OF THE BIGGEST ASEAN ECONOMIES COULD HAVE MUCH TO GAIN FROM LISTING IN HONG KONG. 10 November 2022 Companies in Thailand, one of the largest Association of Southeast Asian Nations (ASEAN) economies, hope to expand both within ASEAN markets and across the world – and could turn to the active financial markets of Hong Kong to raise funds. The Hong Kong Trade Development Council (HKTDC), in collaboration with CCB International, recently compiled a report detailing the potential benefits of Hong Kong listings for Thai companies. BACK TO TOP ^ OVERSEAS EXPOSURE Most Thai companies rely on domestic capital markets for funding. Currently, six Thai companies are listed overseas, with one being listed on the Hong Kong Stock Exchange (HKEX). Of the others, two are listed in Singapore and one each in New York, Taipei and Australia. They range in size from Singapore-listed Thai Beverage, with a market capitalisation of US$11.7 billion as of July, to information technology firm Platt Nera International, listed in Hong Kong, with a market cap of US$14 million. The Stock Exchange of Thailand (SET), consisting of a main board and the Market for Alternative Investment (mai) for emerging companies, listed 788 companies as of July with a market cap of about US$529.6 billion. Among other major ASEAN peers, Kuala Lumpur had 962 listed firms with a market cap of US$367 billion and Singapore 662 firms valued at US$636 billion. HKEX, meanwhile, had 2,579 firms and a capitalisation of US$4.59 trillion. For Thai companies, local fundraising is supported by government tax incentives. That may explain why SET has maintained a leading position for initial public offerings in ASEAN over the past few years. The Stock Exchange of Thailand (SET) is one of the leading markets in ASEAN BACK TO TOP ^ ACTIVE MARKET PREMIUM When comparing HKEX and SET (including mai), in addition to the leads by far in terms of both market capitalisation and number of listed companies, the HKEX is also a more active stock market. The average daily market turnover of HKEX last year was US$17.7 billion, more than double the aggregate turnover of six key ASEAN exchanges. HKEX provides a larger pool of funds for IPOs, and also facilitates follow-up fundraising in the secondary market. BACK TO TOP ^ REQUIREMENTS MET Although HKEX has a higher threshold in both its Main Board and GEM Board than SET and mai respectively, more than 90% of the 788 companies currently listed on SET meet the minimum market capitalisation requirement of listing on the GEM board of HKEX, and around one-fourth of the 788 companies even meet the capitalization requirement of listing for the Main Board of HKEX. Thai companies operating in consumer businesses and services, financial services and the real estate investment trust sector are seen as the best potential candidates to leverage on Hong Kong’s financial platform. Thai companies’ need to fund their expansion beyond ASEAN is rising. With the Regional Comprehensive Economic Partnership (RCEP) coming into force in January this year, Hong Kong, as a leading international financial centre in the region, can provide a wider reach to international and Mainland China investors, who are now showing a growing interest in investing in the ASEAN region. The RCEP, which comprises ASEAN countries as well as Mainland China, Japan, Korea, Australia and New Zealand, came into force at a time when there is a growing need for Thai companies to fund their expansion beyond ASEAN. RCEP is the largest free trade bloc in the world, accounting for about 30% of global GDP and population. The agreement provides for the liberalisation of services and investment across different sectors, which will bring new opportunities for foreign RCEP companies investing in Thailand, and also for the growing Thai services sector as it seeks to expand into other RCEP economies. Research interviewees for the HKTDC report revealed that some Thai companies, particularly in the financial services sector, are planning to expand in the RCEP region and are seeking listing opportunities overseas. BACK TO TOP ^ SPAC ADVANTAGE Hong Kong’s newly launched special purpose acquisition company (SPAC) listing regime, which provides a new and attractive route for listing, is a good fit for high-growth, pre-revenue IT and high-tech Thai companies. While Hong Kong is perceived as a prestige listing venue, more active outreach would help increase awareness amongst Thai companies to encourage them to use Hong Kong as a financial platform to tap the new opportunities. Companies surveyed by HKTDC viewed consumer businesses, particularly tourism-related ones, financial services, REITs and information technology, biotech and other high-technology sectors, as well as manufacturing and resource-related sectors as the most promising areas to tap the Hong Kong market. Related link Link to the article BACK TO TOP ^ BACK TO TOP ^ CONTENT PROVIDED BY Topics: * Finance & Investment, * Hong Kong, * Southeast Asia, * ASEAN, * Thailand, * financial services, * FeatureASEAN, * Editor’s Pick * Finance & Investment * Hong Kong * Southeast Asia * ASEAN * Hong Kong * Thailand ARTICLE TOPICS ARTICLE TOPICS FINANCE & INVESTMENT24664 HONG KONG36026 SOUTHEAST ASIA36184 ASEAN37801 THAILAND36194 MORE TOPICS ARTICLE TOPICS FINANCE & INVESTMENT24664 HONG KONG36026 SOUTHEAST ASIA36184 ASEAN37801 THAILAND36194 FINANCIAL SERVICES72237 FEATUREASEAN150833 EDITOR’S PICK152021 INTEREST_ARTICLE YOU MAY BE INTERESTED IN 11 November 2022 Digital money for the digital age 02 November 2022 Watch company expands its horizons 01 November 2022 Digital switch turns insurer green 18 October 2022 GBA businesses bullish on Asia RELATED EVENTS RELATED EVENTS 1 November - 20 December 2022 Young Techpreneur Project - Up to HK$100,000 funding 14 - 17 December 2022 Eco Expo Asia 2022 (Physical Fair) 14 - 24 December 2022 Eco Expo Asia 2022 (Click2Match) 11 - 12 January 2023 Asian Financial Forum 2023, Hong Kong FIND AN EVENT SOCIAL SHARE FOLLOW US * * * GET WEEKLY UPDATES GO X GET OUR WEEKLY EMAIL UPDATES EMAIL FIRST NAME LAST NAME COUNTRY / REGION Please specify Country / Region AfghanistanAlbaniaAlgeriaAmerican SamoaAndorraAngolaAnguillaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBoliviaBosnia and HerzegovinaBotswanaBrazilBritish Indian Ocean TerritoryBritish Virgin IslandsBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileMainland ChinaColombiaComorosCongoCook IslandsCosta RicaCote d'IvoireCroatiaCubaCyprusCzech RepublicDemocratic Republic of the CongoDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland IslandsFaroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuineaGuinea-BissauGuyanaHaitiHondurasHong KongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsraelItalyJamaicaJapanJordanKazakhstanKenyaKiribatiKorea, Democratic People's Republic ofKorea, Republic OfKuwaitKyrgyzstanLaosLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacauNorth MacedoniaMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoMicronesia, Federated States OfMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNetherlands AntillesNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiue IslandNorfolk IslandNorthern Mariana IslandsNorwayOmanPakistanPalauPanamaPapua New GuineaParaguayPeruPhilippinesPitcairn IslandPolandPortugalPuerto RicoQatarRepublic of MoldovaReunionRomaniaRussiaRwandaSaint HelenaSaint Kitts and NevisSaint LuciaSaint Pierre & MiquelonSaint Vincent and the GrenadinSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth SudanSpainSri LankaSudanSurinameSwazilandSwedenSwitzerlandSyriaTaiwanTajikistanTanzaniaThailandTimor-LesteTogoTongaTrinidad And TobagoTunisiaTurkeyTurkmenistanTurks & Caicos IslandTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited States Virgin IslandsUruguayUSAUzbekistanVanuatuVenezuelaVietnamWallis & Futuna IslandsWestern SaharaYemenZambiaZimbabwe I acknowledge that the above information may be used by the Hong Kong Trade Development Council (HKTDC) for incorporation in all or any of its database for direct marketing or business matching purpose (and may therefore become available to the public within and/or outside of Hong Kong for use by them), and for any other purposes as stated in the Privacy Policy Statement; I confirm that I have the consent and the authority of each individual named in this form to release their personal data for the purposes stated herein. 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