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Thai SEC eases formalities for foreign issuers seeking IPO

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The change will reduce the burden of fundraising for foreign companies and help strengthen the competitiveness of Thailand’s capital markets, the SEC said.

Thailand’s Securities and Exchange Commission (SEC) has reduced the length of time a financial adviser must continually advise foreign issuers after an IPO from three years to just one year.

As of September 1, 2021, the advisory period for foreign listings will be the same as that for Thai issuers.

The reduction will reduce the burden of fundraising for foreign companies and help strengthen the competitiveness of Thailand’s capital markets, the SEC said.

Like Thai issuers, foreign issuers should always disclose relevant information to the SEC and SET (Stock Exchange of Thailand) and undergo a regulatory mapping exercise to provide a comparison between Thai law and the laws in which the foreign issuer is incorporated.

If legal differences are identified that will materially affect the rights of Thai investors, foreign issuers should provide remedial procedures to address such discrepancies.

In addition, the SEC and SET have jointly established a one-stop-shop service that requires SET relations officers to provide advice on fundraising and regulatory compliance.

This will further support financial advisers after the issuance and offering of shares of foreign companies, the SEC said.



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