Office of the Securities and Exchange Commission (SEC) Open to hearing comments on improving the criteria for reporting the results of sales of newly issued shares to the public for the first time (IPO shares) with a view to getting shares listed on the Stock Exchange of Thailand. Providing useful information to investors for making investment decisions before the first day of IPO shares start trading on the stock market.
According to the SEC’s strategic plan for 2024 – 2026, Thailand is focused on strengthening the credibility and trust of the capital market. With the role of capital market development in various aspects to protect investors, especially in the area of wider access to capital market. So that people can make full and equal use of the capital market.
The SEC recognizes the importance of complete, transparent and timely disclosure of information regarding IPO shares as a tool for investors’ decision-making. It focuses on disclosing important and useful information for investors’ decision making. (Disclosure-based) should be timely and not burdensome to those responsible for reporting information
Therefore, the SEC has proposed ideas to further improve the rules. With important things like
1.) Disclosure of information about allocation of shares. IPO Share Sale Result Report Form 81-1-IPO Supplement In the Form 81-1 Summary of Stock Sales Results Statement (Form 81-1 Summary), it consists of 4 information sections.
– Information about existing shareholders, such as the number and ratio of shareholders after the IPO, the number of shares with restrictions on sale (lock-up).
– Information about the most allotted recipients such as the number and proportion of shares after the IPO of the top 10 most allotted recipients and the source of the allotment.
– Information about the beneficiaries of the issuing company, such as the number and proportion of shares held by the top 10 beneficiaries after the IPO.
– Maximum allottee information from bond dealer (underwriter) such as top 10 allottees of each underwriter.
2.) The person responsible for reporting must submit an abbreviated Form 81-1. Delivery shall be made at least 2 business days prior to the Company’s first day of business. (First Business Day) or within 30 days from the date of completion of the offering whichever comes first. The company will report the information through the electronic system of the stock exchange. and is deemed to have been reported to the SEC (which is the same form as the current 81-1-IPO report submission)
In this regard, the SEC has published the said investigation document on its website. SEC https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=959 Concerned and interested persons may express their views through the website or through email: [email protected] Till 22 January 2024
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