SEC improves criteria for reporting IPO stock sales results, effective now

Bangkok, The SEC has revised the criteria for reporting IPO stock sales results, aiming to include the disclosure of important information. And to benefit investors' decisions, effective from 1 March 2024 onwards. The Securities and Exchange Commission (SEC) has updated the announcement regarding reporting the results of the first public sale of newly issued shares (IPO shares) and with the objective of listing the shares on the Stock Exchange of Thailand. To provide investors with information that is useful for investment decisions before the first day that IPO shares start trading on the stock exchange. The SEC has revised the rules related to reporting the results of IPO shares, aiming to increase the disclosure of important information that is beneficial to investors' decision-making. (disclosure-based) in order to be timely and not burdensome to those responsible for reporting information which has important matters summarized as follows: 1. Require disclosure of information on those allocated to IPO shares in addition to the share sales results report form 81-1-IPO in the form of an abbreviated sales results report (abbreviated form 81-1), consisting of 2 parts of information: 1) Information on shareholders after the IPO, such as the number and proportion of shares held after the IPO, the number of shares that have a prohibition on selling (Lock-up), and 2) Information on the first 40 most allocated recipients, such as the number of shares that have been allocated and Proportion of allocation compared to total offering and the source of allocation 2. Require the person responsible for reporting to submit the abbreviated Form 81-1 at least 2 business days before the first trading day of the company or within 30 days from the closing date. Offer for sale Whichever day is due first. The company will report information through the electronic system of the stock exchange. and it is considered to have been reported to the SEC (which is the same format as the present 81-1-IPO report submission) This related a nnouncement* has been published in the Royal Gazette and is effective from 1 March 2024 onwards. It applies to companies that submit effective securities offering information forms ( filing effective) after the effective date of announcement. Source: Thai News Agency