The Thailand Securities and Exchange Commission has revised the framework for second public offerings by companies listed on the LiVEx Exchange and for their listings on the Market for Alternative Investment and the Stock Exchange of Thailand, with changes effective from 16 January 2025. The amendments speed up the SPO process and apply IPO-style requirements to LiVEx-listed companies seeking to list on mai or SET. For SPOs, the investor public opinion period, during which investors may submit inquiries to the company, is reduced from 30 days to 7 days, and the cooling-off period for the effectiveness of the filing form is reduced from 14 days to 3 days. For listings on mai and SET, LiVEx-listed applicants must comply with the same rules as a public company limited conducting an IPO, including allocation rules and other related criteria, and must disclose at least the minimum required information and details of equity allocations to related persons in shareholder meeting notices, consistent with existing mai and SET practice. The SEC also adjusted LiVEx listing rules for alignment, and noted that most stakeholders supported the changes through the public hearing process.
Thailand Securities & Exchange Commission 2025-01-16
Thailand Securities and Exchange Commission shortens SPO timelines and aligns LiVEx-to-mai and SET listing rules with IPO requirements
The Thailand SEC has revised the framework for second public offerings (SPOs) and listings on mai and SET for LiVEx-listed companies, effective 16 January 2025. Changes include reducing the investor public opinion period for SPOs from 30 to 7 days and the cooling-off period from 14 to 3 days, while requiring LiVEx-listed companies to meet IPO-style requirements for mai and SET listings. The SEC noted broad stakeholder support for these amendments.