The Stock Exchange of Thailand (SET) has amended listing criteria to better align with the new economic landscape and international practices, opening up opportunities for New Economy companies, both domestic and foreign, to raise funds from the Thai bourse.
The new criteria will apply for companies across 10 targeted industry groups, including advanced medical and healthcare, next-generation automotive and smart electronics, as well as those promoted by the Board of Investment (BoI) and the Eastern Economic Corridor (EEC) Office to raise funds in the Thai capital market, according to SET president Asadej Kongsiri.
Over the past three decades, the business structure of listed companies in the Thai capital market has hardly changed, while New Economy industries have been growing exponentially and require truly accessible sources of funding, he said in a statement on Friday.
The revision of the listing criteria marks a significant step in elevating the Thai capital market in line with the SET’s three-year strategic plan (2026-28).
‘The new criteria will facilitate faster and more convenient fundraising for companies promoted by the BoI and EEC office, as well as leading international companies. Notably, it paves the way for Thai investors to grow alongside these industries of the future,’ Mr Asadej said.
The revised criteria will take effect from Sept 11.
The key changes include the revision of eligibility criteria for companies in the 10 New Economy industries to make it more attractive for high-potential businesses to raise funds on the SET.
The revised framework would also introduce a special track tailored to the characteristics of businesses promoted by the BoI and the EEC.
As well, public offering criteria have been adjusted for foreign companies that have already raised capital and are listed on foreign stock exchanges, enabling them to apply the secondary listing criteria.
The proportion of shares held by foreign companies will be maintained at a level sufficient to ensure adequate trading volume and liquidity on the SET.
However, foreign companies listed in an ‘unrecognised country’ must still meet the same qualifications as Thai listed companies in terms of quality, financial standing, operating performance, free float and information disclosure requirements under current criteria.
These are companies with shares listed on stock exchanges in countries that are not on the list of jurisdictions recognised by the SEC.
The SET has also revised silent period requirements, covering both the proportion and duration of the silent period applicable to all listed companies, to better align with the international standards.
Strategic shareholders will still be required to maintain their shareholding for an appropriate period following listing, thereby maintaining investor confidence.