Thai State Fund Seeks $4.5 Billion to Help Boost Stock Market
- Vayupak Fund includes principal protection, guaranteed returns
- Goldman says fund could woo foreign investors, aid liquidity
Thai stocks were among the world’s worst performers for the first seven months of 2024.
Photographer: Taylor Weidman/BloombergThis article is for subscribers only.
Thailand’s state-controlled Vayupak Fund is starting a 150 billion baht ($4.5 billion) offering on Monday aimed at boosting the local stock market.
The offering, which will increase Vayupak’s funds under management to 500 billion baht, will run through Friday. The allocations will be announced on Sept. 23, and stock purchases will begin Oct. 1, according to its prospectus and financial adviser Finansa Securities Pcl. The fund plans to invest in constituents of the SET 100 Index or other local stocks with high ESG scores.