Listing Information

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Listing on SET

Thai Company

Operating Company

Holding Co.

Infrastructure Business

Listing

Allowed to list only on SET

Performance
Paid-up capital
Equity
Net profit

≥ THB 300 million
≥ THB 300 million
Combined net profit of latest 2-3 years ≥ THB 50 million and latest year THB ≥ 30 million and current year > THB 0

Financial Adviser

To maintain 1 year after listing

To maintain 3 years after listing

Qualitative criteria

To comply with home exchange regulations

To comply with Thai rules, including additional continuing listing obligations 

Regulatory mapping

• To provide regulatory mapping which compares corporate laws and regulations of Thai and jurisdiction of its incorporation, especially the corporate  management and significant aspects of the shareholders’ protection

Public offering and free float

• No less than 1,000 shareholders

Percentage of free float requirement

•  No less than 25% of paid-up capital
  (THB 300 million ≤ paid-up capital ≤ THB 3,000 million)
  
  
• No less than 20% of paid-up capital
  (paid-up capital ≥ THB 3,000 million)

(or)

Market Cap ≥ THB 300 million or ≥ 5% of paid up capital (whichever is lower)

Silent period

To comply with home exchange

3 years after listing (permitted to sell a maximum of 20% only of the locked-up shares after one year of listing)

Filing

• To comply with home exchange

• To comply with Thai rules

• To include additional concerns and risk factors

Disclosed time

To disclose no later than that in home country

Intermediaries

• FA: compulsory
• Underwriter:  Must appoint an underwriter approved by the SEC

Post-listing disclosure

• To comply with home exchange requirements
• To include some additional requirements 

• To comply with Thai rules and home exchange 

Contact person

Located in Thailand and authorized to act on issuer’s behalf

Registrar

Must appoint registrar in Thailand

Language

English (minimum)

Accounting standard

• Thai GAAP or
• International Financial Reporting Standards (IFRS) or
• Other standard which is accepted by home exchange
  or regulator with reconciled IFRS or
• Other standards accepted by the SEC

Auditor

• Auditors who are on the approval list of the SEC, endorsed together with the local auditor. Both of them must be full members of the same group.

•  Foreign auditors recognized by the SEC:
  
  
• Regulated by the audit regulator who is a member of International Forum of Independent Audit Regulators (IFIAR) or recognized by European Commission (EC) or qualified as a minimum of “broadly implemented” by Financial Sector Assessment (FSAP)
  
  
• The office of the foreign auditors must have the reliable control system according to International Standard on Quality Control (ISQCI1) specified by International Federation of Accountants (IFAC)  and must have  auditors of at least 5 persons  possessingbachelor’s degree at the minimum.