Listing Information
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Thai Company |
Foreign Company | |||||||||||
Primary Listing | ||||||||||||
Secondary Listing | ||||||||||||
Primary Listing
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Introduction
As one of the top attractive listing venues in ASEAN, The Stock Exchange of Thailand (SET) offers a wide range of listing products and services to create value and match financial opportunities across different segments of businesses and industries, both locally and internationally. Today, companies incorporated abroad can seek listing on SET as its primary exchange. This will assure that companies can reap benefits of Thailand’s long-term source of fund for business expansion and opportunities.
Why SET?
- Unrivaled liquidity: Apart from raising adequate funds, liquidity is one of the most
critical criteria for any company considering listing. With diversified investor base, SET
has been able to secure its top rank in terms of trading liquidity in ASEAN. This could
potentially provide issuers a more liquid market.
- Visibility in Thailand and beyond: Having footprints in Thailand, foreign companies will
be able to tap into the growing domestic market amid the visibility and recognition
here. Furthermore, as SET’s positioning to become the Greater Mekong Subregion (GMS)
connector, it is advantageous for foreign companies to grow business and generate
opportunities in the GMS.
- Long term post-listing partner and sustainable development: Listing does not end at the moment when the management rings the bell on the first trading day, SET has continuously dedicated support teams to advise the right financial tools and promoting activities to enable sustainable development of the listed companies.
General listing criteria
Paid-up capital after IPO |
> THB 300 million |
Distribution of minority shareholding / Free float (after IPO) |
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Operating result (1) |
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Financial Condition and liquidity |
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ID/AC Composition |
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Registrar |
A registrar in Thailand approved by SET |
Silent Period (2) |
3 years after listing (permitted to sell a maximum of 20% only of the locked-up shares after one year of listing) |
Disclosure language |
English |
Additional Requirements
Regulatory mapping |
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Accounting standard |
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Auditor |
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Financial Advisor |
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Directors |
At least 2 directors with Thai nationality and residents and at least one of them has to be independent director and Audit Committee |
Contact person |
Have contact person in Thailand with Thai nationality and resident |
Place to hold shareholders meeting |
Not specific but have to provide and facilitate voting channel and place for Thai investors |
Cross-border Enforcement Cooperation (5) |
Home regulator must be able to cooperate and exchange information with the Thai SEC for the purpose of regulatory enforcement regarding securities markets |
(1) Allowed to list on SET with profit test requirement only.
(2) Silent period will 1 year after listing if foreign issuer is a Thai-linked.
(3) List of qualified auditors and financial advisor can be obtained from www.sec.or.th
(4) This will not be applied to foreign issuer who is a Thai-linked company having Thai major shareholders more than 50%.
(5) This will not be applied to foreign issuer who is a Thai-linked company incorporated in CLMV countries (Cambodia, Lao PDR, Myanmar and Vietnam)
Key corporate disclosure
Reviewed quarterly financial statement |
Within 45 days upon the end of each quarter |
Audited yearly financial statement |
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Annual registration statement (Form 56-1) |
Within 3 months upon the end of fiscal year |
Within 3 months upon the end of fiscal year |
Within 4 months upon the end of fiscal year |
Reference :
- Capital Market Supervisory Board (CMSB) Announcement Tor. Jor. 3/2558
- The Stock Exchange of Thailand (SET) Announcement on the Listing of Common or Preferred Shares B.E.2558