The Stock Exchange of Thailand (SET) has appointed Prapan Charoenprawatt as senior vice president of SET and president of its Market for Alternative Investment (mai), helping small- and medium-sized enterprises (SMEs) raise funds and enhance quality and sustainability, effective March 1, 2014.
SET President Charamporn Jotikasthira said that SET's Board of Governors approved promoting Prapan to be mai’s fifth president, with a four-year term, in accordance with SET’s succession plan, replacing Chanitr Charnchainarong whose term will end March 1. Prapan has been vice president, Executive Education Department, Capital Market Academy, operated by SET.
In the Issuer and Listing Division overseen by Chanitr, Senior Vice Present Paveena Sriphothong focuses on expanding the number of SET-listed companies to raise market capitalization of the main board, including developing new products, such as infrastructure funds and real estate investment trusts, to build SET’s attractiveness among domestic and international investors.
“With Prapan’s proven success and expertise, we strongly believe that under his leadership, mai will to continue to expand in both quality and quantity of listings. The prospects are bright for mai to keep on being a key fundraising channel for businesses and a favored choice for investors, accelerating Thai economic growth,” Charamporn added.
Since its founding almost 15 years ago, mai has raised over THB 56.13 billion (approx. USD 1.72 billion) (as of February 21, 2014), with mai’s index at 373.52 points, a market capitalization of THB 167.51 billion (USD 5.15 billion), and 95 firms are currently listed. In addition, 15 mai-listed firms have successfully grown to the point where they were listed on SET.
Prapan earned his MBA from Chulalongkorn University, Bangkok. He joined SET in 2005 as mai vice president (2005-2008) before being moved to be responsible for enterprise development at the Capital Market Development Fund (CMDF), under the SET group.