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Published on August 2, 2007

"Ten to 12 firms will turn in applications soon but some of them won't make their debut this year. However, we're trying to push them to list this year as much as possible to bring the total of new listings close to the target," MAI chief executive Chanitr Charnchainarong said yesterday.

So far this year four companies have applied to list on the MAI and two of them are already trading.

Firms in the alternative fuel business have huge potential to list on the MAI, thanks to higher demand following the rise in prices of regular fuels, he said.

Many local and foreign funds are around to provide financial support through joint ventures with these companies. For example, a Bt3-billion energy fund is managed by MFC Asset Management, he said.

The MAI's market capitalisation has reached Bt30 billion, while trading volume has doubled from early this year.

One of the prospective MAI listings is Mill Con Steel Industries. The steel-maker appointed KTB Securities as its financial adviser and will likely start trading next quarter.

Managing director Sittichai Leeswadtrakul said the company submitted its application for an initial public offering with the Securities and Exchange Commission yesterday.

Although the slow-down has set a trend for the overall economy this year, uncertainties are starting to clear up and the company's growth will remain robust, he said.

Mill Con Steel earned a net profit exceeding Bt30 million in the first three months of the year. It will seek strategic partners to add value to its business after listing on the second-tier bourse, Sittichai said.

The Nation