InfoQuest (September 8, 2021) -- According to Ms. Ruenvadee Suwanmongkol, Secretary General of the Office of the Securities and Exchange Commission (SEC), SEC revised the rules of initial public offering (IPO) of foreign companies to enhance the competitiveness of Thailand's capital market.
"SEC has made the capital market a dynamic source for domestic and international companies to raise funds by revising unnecessary or obstructive rules. According to Resolution No.4/2021 of the Capital Market Supervision Committee on March 16, SEC shortened the service period of financial advisors (FA) to supervise applicants' issuance and issuance of shares after IPO from three years to one year, which is equivalent to adopting the same standard as Thai companies. The revision, which will come into effect on September 1, reduces the financing cost for foreign companies planning to raise funds in Thailand, while safeguarding the rights and interests of investors," said Ruenvadee Suwanmongkol.
Foreign companies to be listed in Thailand must submit relevant reports to the Office of SEC and the Stock Exchange of Thailand (SET), and formulate a Regulation Mapping to compare the listing and trading regulations of the country where they are located with those of Thailand. In case of any significant discrepancy that may harm the rights of investors, alternative measures should be adopted.
SEC and SET also launched the one-stop service program, in which SET employees act as Relationship Managers to provide fund-raising advice to foreign companies and ensure their compliance with SEC and SET regulations.
Source: InfoQuest, by Peacherthorn Phuumikham /Sasithorn Simaporn, translated by Xinhua Silk Road
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