Stock Exchange of Thailand Amends Listing Requirements for Foreign Firms
The Stock Exchange of Thailand (SET) has decreased the period in which foreign companies are required to retain financial advisors after listing as part of a bid to encourage more international companies to list on its exchange.
Foreign companies will now only have to retain financial advisors for one year after listing and the quiet period of strategic shareholders has been shortened to 1.5 years.
The amended requirements are also aimed to offer more investment alternatives to investors, and will take effect on February 22, 2022, after receiving feedback from public consultation, as well as the U.S. Securities and Exchange Commission (SEC)’s approval.
SET President Pakorn Peetathawatchai said that SET has adjusted the foreign listing rules to support global companies to raise funds through their listings on the Thai stock market.
Peetathawatchai said that the listing of global companies in Thailand will not only make the Thailand’s capital market more attractive, but it will also allow buyers to invest in foreign stocks through the Thai stock connect.
The new rule has already gone through public hears and has received approval from the SEC’s board.
More details are available at www.set.or.th.