Thai Life shares weak in Southeast Asia’s biggest IPO debut of 2022

Traders are seen in front of a screen with trading figures in red at Thailand Stock Exchange building in Bangkok, Thailand March 13, 2020. REUTERS/Juarawee Kittisilpa

BANGKOK, July 25 (Reuters) – Thai Life Insurance Plc (TLI) (TLI.BK)shares made a weak debut on the Bangkok stock exchange on Monday in what is Southeast Asia’s largest initial public offering (IPO) so far this year.

TLI stock rose 0.63% at the opening the bell but quickly lost ground in line with the market to be flat heading into the afternoon session.

The broader market (.SETI)was up 0.24% by 0422 GMT

TLI shares were priced at 16 baht, raising at least 34.4 billion baht ($937 million) from the sale of 2.3 billion shares, with about half from investors who bought before the deal went public, according…