On Dec. 24, Thai SEC revised rules re offering shares to key investors.
Thai SEC amended rules on permission to offer newly issued shares specifically to key investors for the purpose of offering newly issued shares to the general public.
Document dated Dec. 24, 2024, received from Thai SEC Dec. 26, summarized Dec. 30.
Amendments
A public company shall not offer newly issued shares to a limited group of persons until its shares begin trading on Thai SET, subject to the following exceptions.
Where it concerns offering newly issued shares to key investors (cornerstone investors).
A company that has submitted an application for the first public offering of newly issued shares according to the rules on application for offering of newly issued shares.
A company listed on the live exchange that has submitted an application for the offering of newly issued shares for the registration of the company's shares as listed securities on Thai SET or the market for alternative investment (MAI).
A company that has submitted a registration statement for the IPO of shares in accordance with rules on offering of newly issued shares by a public company limited for listing on live exchange and the offering of securities by live exchange companies.
Effectiveness
The amendment will be effective from Jan. 16, 2025.
