The Thailand Securities and Exchange Commission has launched a public consultation on proposed rules that would allow companies listed on the LiVE Exchange (LiVEx) to raise funds through private placements of newly issued shares and convertible debentures (CDs), with a framework designed to balance fundraising flexibility with investor protection. Under the proposal, LiVEx issuers could offer via private placement to institutional investors, ultra-high net worth investors and high net worth investors, subject to a maximum of 50 offerees and a total offering value of less than THB 10 million in any 12-month period. Qualifying offerings would not require prior SEC approval and would be exempt from filing a registration statement and draft prospectus, but issuers would need to disclose relevant information including in shareholders’ meeting materials. The package also proposes removing shareholders’ veto rights for discounted private placements of shares and CDs, and for all offerings of shares and warrants to directors or employees under employee stock option programmes. Comments are invited via the SEC’s consultation channels, with the public hearing open until 26 April 2026.
Thailand Securities & Exchange Commission 2026-03-26
Thailand Securities and Exchange Commission consults on LiVEx private placement regime for shares and convertible debentures
The Thailand Securities and Exchange Commission is consulting on rules to allow LiVE Exchange-listed companies to raise funds via private placements of newly issued shares and convertible debentures to institutional, ultra-high net worth and high net worth investors. Offerings would be capped at 50 offerees and THB 10 million over 12 months, benefit from exemptions from prior approval and prospectus requirements subject to disclosure obligations, and remove shareholders’ veto rights for certain discounted private placements and employee stock option issuances.