Bangkok, Stock Exchange Raise the level of supervision of listed companies in the entire process. To increase the strength of listed companies in terms of financial position and operating results. As well as raising the level of information disclosure to ensure investors receive complete information. And there are signs to warn investors that are more comprehensive. As well as improving the consideration of Backdoor Listing and Resume Trading qualifications to be equivalent to New Listing, gradually effective from March 25, 2024 onwards.
Mr. Phakorn Peetathawatchai, Director and Manager The Stock Exchange of Thailand (SET) revealed that the Stock Exchange Continuously work with the SEC to study, review and improve various criteria to be appropriate and consistent with the current situation. Latest Stock Exchange The criteria have been improved to enhance the supervision of listed companies in the entire process. Since registration Maintaining status as a listed company as well as revocation To increase the
quality of listed companies along with increasing disclosure of information and warning investors To build confidence and stability in the Thai capital market. After improving the disclosure of the names of securities holders to provide investors with more information. which came into effect on February 19, 2024
This time, the Stock Exchange Criteria have been revised in 4 important matters as follows:
1. Improve the qualifications of companies to be listed on both the SET and mai by increasing the value of profits and shareholders’ equity. To strengthen both the financial position and operating results of the companies that will be listed. Which will come into effect on January 1, 2025 so that companies that will be listed and those involved can prepare to comply with the new criteria. The new criteria will consider factors from the current situation. Size and financial status of companies in Thailand Competing and competing with regional markets and having a supporting market that covers fundraising for c
ompanies of all sizes, including SET, mai, and LiVEx.
The new criteria for companies to be listed on the SET are as follows:
-Profit (Profit) last year from 30 million baht increased to 75 million baht.
Total 2-3 years from the original 50 million baht increased to 125 million baht.
– Financial position (Equity) from the original 300 million baht increased to 800 million baht.
-Paid-up capital from the original 300 million baht was reduced to 100 million baht in order to support companies with little paid-up capital. but has good financial status
-Increase the proportion of free float and the percentage of shares offered for IPO in companies with paid-up more than 50-300 million baht, from 25% to 30% and from 15% to 20%.
The new criteria for companies to be registered with mai are as follows:
-Profit (Profit) last year increased from 10 million baht to 25 million baht.
Total 2-3 years, from previously unspecified, increased to 40 million baht.
– Financial position (Equity) remains unchanged at 50 mi
llion baht.
-Paid-up capital remains unchanged at 50 million baht.
-Increase the proportion of free float and the percentage of shares offered for IPO in companies with paid-up more than 50-300 million baht, from 25% to 30% and from 15% to 20%.
2. Raise the level of warning to investors Effective March 25, 2024, adding reasons to warn investors with the following signs:
2.1 In the case where a listed company is at risk in its financial position Performance financial liquidity In both cases there is no business. There is continuous loss. or default on payments to financial institutions or debt instruments
2.2 In the case where the auditor does not express an opinion on the financial statements
2.3 In the case where a listed company does not meet the specified criteria, such as being a cash company, having an audit committee or free float that does not meet the criteria, or not organizing Opportunity Day as specified.
The warning to investors will be displayed with different symbols according to each eve
nt. This new mark will replace the current C (Caution) mark.
3. Add reasons for delisting in cases where a listed company has not had continuous business for many years. or unable to fix Free Float within the specified period To ensure that listed companies are of suitable quality to be listed companies.
4. Increase intensity in considering the qualifications of companies that are listed indirectly (Backdoor Listing) and in the case of moving back to trading after correcting the grounds for possible delisting (Resume Trading) to be equivalent to new listing (New Listing) in order for the company to be listed. They are of similar quality.
However, these criteria have been passed through listening to opinions from those involved. and has been approved by the SEC. Those interested can see details of the updated criteria at the Stock Exchange’s website. www.set.or.th under the headings “Rules/Supervision” and “Rules – Circular regarding listed securities”.
Source: Thai News Agency