Bangkok, February 24, 2015 ? The SEC announced the success of ?Pride of the Provinces? Project in the past three years joined by 289 companies from 42 provinces. Recently, 15 participants obtained IPO approval from the SEC.
Vorapol Socatiyanurak, SEC Secretary-General said that for Thailand to strive forward and compete internationally, development must be driven nationwide. The SEC thus initiated the ?Pride of the Provinces? Project in 2011 to create awareness and understanding about capital market among local businesses across the country?s as well as facilitate access to funding sources and make use of capital market. The Project has gained support from our seven alliances, namely the Ministry of Interior, National Science and Technology Development Agency (NSTDA), the Stock Exchange of Thailand (SET), the Federation of Thai Industries, Thai Chamber of Commerce, Investment Banking Club and participating approved auditors.
At present, 289 companies from 42 provinces joined the Project which has been well-receptive during the past three years. Accordingly, the ?Pride of the Provinces IV? has been launched and now opens for new application until the end of June.
By participating in the Project, business operators will gain knowledge and better understanding about capital market, relevant fund raising rules and regulations, and preparation for going public. In addition, they will be assisted in transition throughout the process by capital market professionals, including business restructuring, arrangement of proper internal control systems as well as preparation of accurate financial statements and effective information technology. This will enable them to operate their business effectively, determine business strategy in a timely manner and become a publicly traded company, eventually.
From 2014 to early this year, the following 15 participants were approved by the SEC to launch IPOs : Thai Solar Energy Plc. (Kanchanaburi); K.C. Metalsheet Plc. (Khon Kaen); Smart Concrete Plc., Exotic Food Plc., N.D. Rubber Plc. (Chonburi); Vichitbhan Palmoil Plc. (Chumphon); Siam Wellness Group Plc. (Chiang Mai), Prodigy Plc., Forth Smart Service Plc. (Nakhon Pathom); Scan Inter Plc.(Nonthaburi); Buriram Sugar Plc. (Buriram); Rayong Wire Industries Plc. (Rayong); Carabao Group Plc., Eastern Polymer Group Plc. and LDC Dental Plc. (Samutprakarn).
?The Pride of the Provinces? Project has served as a mechanism for driving the development of the country. If our businesses of all types and sizes nationwide have access to financial sources through capital market, it will tremendously help enhance our nation?s capacity and competitiveness. The employment rate will increase while income inequality will be reduced. Furthermore, financial literacy will be strengthened in support of quality investor base expansion along with our country?s competitiveness in the international area,? Vorapol concluded.