Thai IPO market hit a 15-year low in the first 8 months of 2025, with only 2 companies raising 575.92 million baht—a stark contrast to the SET Index's strong 30% YTD growth. The slump reflects delayed market recovery from previous years' weakness; companies postponed IPO plans during downturns and preparation timelines (typically 12-18 months) haven't yet reflected current positive sentiment. SET officials expect strong recovery in 2026 as improved market conditions encourage pent-up pipeline of delayed listings. Regulatory adjustments are underway to support New Economy businesses.