The Stock Exchange of Thailand (SET) has adjusted listing regulations for ordinary shares to encourage the listings of companies operating in technology- and innovation-driven industries under the Bio-Circular-Green (BCG) business model by extending to mid-sized local companies and foreign companies. The adjustment is aimed to bolster growth potential which is in line with Thailand's strategic plan to chart a path towards a hub for technologically advanced and innovative industrial clusters. The new criteria will be effective from June 6, 2023.
SET President Pakorn Peetathawatchai said that the requirements will be extended to cover mid-sized Thai companies and large-scale foreign companies which create benefits to the Thai economy, removing the earlier limitation that allowed only Board of Investment (BOI)-promoted companies to tap into the capital market. However, companies must generate operating revenue from the 10 target industries to be qualified for listing on SET and Market for Alternative Investment (mai) based on the criteria of Market Capitalization Test to accommodate those with growth potential to access funding sources in the capital market and lead to the country's economic growth. The 10 target industries comprise Advanced Agriculture and Food, Biofuels & Biochemicals, Medical for Future, Creative Tourism, Next-Generation Automotive, Aviation & Logistics Total Solution, Digital & E-commerce, Smart Electronics, Robotics, and Technology and Innovation Development.
The amendment is aimed to support and promote the companies operating in businesses that are in line with the aforementioned government policy. Companies with market capitalization of not less than THB 7.50 billion (approx. USD 217.64 million) for listing on SET or THB 2 billion for listing on mai, and having other qualifications as specified, can submit application for listing on SET and mai, with specified additional criteria of information disclosure. SET will later set guidelines to screen companies in the target industries for decision-making on ordinary share admission. Such criteria have undergone opinion hearing from relevant parties, and have been approved by the Securities and Exchange Commission (SEC) Board.
Entrepreneurs and interested persons, please visit www.set.or.th for more information. Click "Rules and Regulations" and go to "Issuers" and "Simplified Regulations".