THAILAND: SEC Revises Criteria for IPO Issued by a Foreign Listing

Tuesday September 7 2021

On 3^rd September 2021, the Securities and Exchange Commission of Thailand (SEC) announced that in accordance with capital market supervision resolution No. 4/2021 on March 16^th, 2021, SEC has revised the criteria for IPO issued by foreign listings to reduce the financial advisor’s recommendation period (FA) from 3 years to 1 year, equivalent to the criteria for Thai companies.  

Foreign companies must also produce and submit information or reports in accordance with THE SEC and SET regulations, as well as Thai companies, and must establish regulatory mapping to compare the laws of the country in which they are located with Thai law. Replacement measures must be provided. If the laws abroad differ significantly with Thai law on issues that affect the rights of investors, then the laws of foreign law will be significantly different from those of Thai law. 

In addition, the SEC and SET have jointly created a one-stop service that requires the relationship manager who is an employee of the SET to advise on funding and compliance with the criteria of the SEC and set of directors after the company is listed on the stock exchange. This will support fa duties after issuance and IPO of foreign companies. 

Click on the above link for further information.