The Stock Exchange of Thailand (SET) has adjusted listing rules for ordinary shares to help companies operating in technology and innovation-driven industries under the bio-, circular and green (BCG) economic model.
Effective from June 6, the new criteria aim to bolster the growth potential of BCG businesses, in line with the Thai government's strategic plan to become a hub for technologically advanced and innovative industrial clusters.
The 10 targeted industries are advanced agriculture and food, biofuels and biochemicals, advanced medical, creative tourism, next-generation automotive, aviation and logistics solutions, digital and e-commerce, smart electronics, robotics, and technology and innovation development.
The adjustment allows companies with a market capitalisation of at least 7.5 billion baht (around US$216 million) to submit applications to list on the SET, while companies with a market cap of at least 2 billion baht can list on the Market for Alternative Investment (MAI), assuming they meet other criteria related to information disclosure.
Firms wishing to list on the SET must have been operating for at least three years, while firms listing on the MAI must have been operating for at least two years.
SET president Pakorn Peetathawatchai said the new requirements target medium-sized local companies and large foreign firms that create benefits for the economy, removing an earlier limitation that only allowed Board of Investment-promoted companies to tap into the capital market.
However, companies in the 10 targeted industries must generate an operating profit to list on either bourse, based on criteria set as a market capitalisation test.
"The shift is to accommodate companies with growth potential in accessing funding sources in the capital market, propelling the country's economic growth," Mr Pakorn said.
The SET plans to create guidelines to screen companies in the targeted industries wishing to list, he said.
Such criteria must pass hearings involving relevant parties and receive approval from the Securities and Exchange Commission board.
For additional information, visit www.set.or.th, click "Rules and Regulations" and go to "Issuers", then "Simplified Regulations".
