The Thailand Securities and Exchange Commission has ordered the suspension of the private placement offering of newly issued shares by Advanced Connection Corporation Public Company Limited after finding that the company’s disclosures on the deal omitted material information required for shareholder approval. The regulator concluded that ACC’s proposed offering did not comply with the rules governing listed companies’ private placement of newly issued shares. The action followed ACC’s clarification letters on the allocation of the private placement, disclosed via SETLink on 1 April 2026 and 23 April 2026, and the notice calling the shareholders’ meeting published on 10 April 2026. The SEC found that the clarified information and the meeting notice failed to meet the requirements in Clauses 5(2)(b), 5(4), and 7(2) of the Capital Market Supervisory Board notification on the particulars of notices calling shareholders’ meetings for securities issuance approvals, as well as the related disclosure guidelines. The suspension order was made under Section 58(1) of the Securities and Exchange Act and Clause 7(5) of the notification on approvals for listed companies to offer newly issued shares through private placement.
Thailand Securities & Exchange Commission 2026-05-05
Thailand Securities and Exchange Commission suspends ACC private placement share offering over incomplete shareholder meeting disclosures
The Thailand Securities and Exchange Commission has suspended Advanced Connection Corporation Public Company Limited’s private placement of newly issued shares, finding the company’s disclosures omitted material information required for shareholder approval and breached rules on private placements by listed companies. The SEC said ACC’s clarification letters and shareholders’ meeting notice failed to meet Capital Market Supervisory Board requirements on meeting notices and disclosure, and imposed the suspension under Section 58(1) of the Securities and Exchange Act and Clause 7(5) of the notification on approvals for listed companies to offer newly issued shares through private placement.