Market Roundup 29 June 2023

1) Thai stock market overview

Thailand’s SET Index closed at 1,479.57 points, increased 12.64 points or 0.86% with a trading value of 52 billion baht. The analyst stated that the Thai stock market bounced back before cooling down in the afternoon session, boosted by buying pressure in the energy stock and a short covering in big-cap stocks. The analyst expected the market to be stable with an adjustment for addition and deletion in SET50 Index and SET100 Index on the last trading day of the second quarter.


2) Japan and South Korea to hold first finance talks in 7 years to restore currency swap deal

Japan and South Korea will meet for the first time in seven years on Thursday to discuss restoring a currency swap agreement which has already expired.

According to a Reuters report citing three government sources with knowledge of the agenda, Japanese Finance Minister Shunichi Suzuki and South Korean Finance Minister Choo Kyungho are anticipated to agree on the need for reviving a stalled bilateral currency swap agreement.

This conference is an attempt to repair strained relations between the two countries in light of the common geostrategic threats posed by a more aggressive China and an unpredictable North Korea.


3) Siam Cement’s SCG Decor will offer up to 444 million shares in for IPO

Siam Cement Pcl. (SET: SCC) on Thursday announced that its subsidiary, SCG Decor Public Company Limited (SCGD), had filed an application with the Office of the Securities and Exchange Commission (SEC) for approval to offer its newly issued shares, along with a registration statement and draft prospectus for IPO.

Under this IPO Plan, SCGD expects to offer no more than 444,100,000 of its newly issued ordinary shares at the par value of THB 10 per share. The portion of the newly issued ordinary shares to be offered in the IPO will not exceed 26.83% of the paid-up capital of SCGD after the capital increase and the issuance and offering its IPO shares to (1) the public, including but not limited to the Company’s eligible shareholders with pre-emptive rights, cornerstone investors, directors, executives, and/or employees, related persons of SCGD and/or its subsidiaries, patrons of SCGD and/or its subsidiaries, including the allocation of the newly issued ordinary shares to an over-allotment agent (if any) and (2) the shareholders of SCG Ceramics Public Company Limited (SET: COTTO) as the consideration for the tender offer of all securities of COTTO.