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Article: Bangkok Post, Thailand, Guest Column.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 2, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Suvarn Valaisathien, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Sep. 2--Prior to the economic crisis, financial and stock markets enjoyed a boom. Listed companies issued countless European Convertible Debentures or ECDs which foreign investors snapped up in the high hope that stock prices would continue to rise and more than compensate for the low coupon rates of the ECDs.
In addition, many companies rushed to offer their shares to the public with initial public offerings (IPOs) worth tens of billions of baht. Due to the huge number of IPOs and the sentiment at that time, the quality of listing companies might not have been ...