Thai Life Insurance Public Company Limited (SET: TLI) announced that 25 July will be the first trading day in the Thai stock market for what would be the largest IPO this year in Thailand’s SET Index.
The company priced its IPO at THB16.00 per share, which received an overwhelming response from traders during the subscription period from 29 June – 14 July 2022.
TLI is expected to enter the SET50 Index with a fast-track measure upon its arrival. One of the conditions to meet requirements for the fast-track measure is to have a market capitalization over 1% of the total market cap of SET Index, which is now standing at THB18.5 trillion.
Thai Life Insurance will kick off its first trading day with a market cap of THB183 billion and if the closing price is higher than 2% on the first trading day, the company will automatically enter the SET50 Index with a new market cap of THB186 billion, which is slightly higher than a 1% of total market cap of SET Index.
The arrival of TLI could jeopardize the last position of securities in the SET50 Index that will be pushed off the index by the addition of TLI.
Jay Mart Public Company Limited (SET: JMART) had just been added into the index this July and is now in the worse position to be kicked off the index based on the market cap of THB62.7 billion as of the closing price on July 12, 2022.
KCE Electronics Public Company Limited (SET: KCE) and IRPC Public Company Limited (SET: IRPC) trailed behind JMART with a market cap of THB64.7 billion and THB64.9 billion, respectively.