The SEC has reviewed the regulations concerning the SPO shares offering and the mai/SET listing requirements for LiVEx-listed companies to better accommodate small and medium-sized enterprises and enable LiVEx-listed companies to conduct business with more flexibility, while continually maintaining appropriate levels of investor protection. Another proposed amendment is a revision to the mai/SET listing regulations to facilitate mai/SET listing for LiVEx-listed companies. The proposed amendments are as follows: 

(1) SPO offering issued by LiVEx-listed companies: To shorten the public opinion period from 30 days to 7 days, and the cooling-off period* from 14 days to 3 days;  

  (2) mai/SET listing requirements for LiVEx-listed companies: To require an application for approval, compliance with the rules for the initial public offering of shares (IPO), and allocation of IPO shares in compliance with the criteria for subscription, sale and allocation. Additionally, the application must meet applicable requirements similar to those imposed on a public limited company applying for an IPO approval, including disclosure of information according to the minimum requirements as well as the information on share allocation to related parties (RP) in the shareholder meeting invitation, as similarly required on the companies listed on mai/SET. 

The consultation paper is available at: https://www.sec.or.th/EN/Pages/PB_Detail.aspx?SECID=1024. Stakeholders and Interested parties are welcome to submit comments and recommendations via the SEC website or email: fundraisingpolicy@sec.or.th The public hearing ends on 21 November 2024.

Remark: 

* The cooling-off period is the time when a company publishes the most updated registration statement (“filing”) to allow investors to study the information in the filing before the offering begins.