The Stock Exchange of Thailand (SET) is reviewing free float requirements for new listings to enhance its attractiveness as a listing venue for large corporations. The proposed amendments aim to provide greater clarity and strengthen the Thai capital market's global competitiveness, aligning with SET's strategic goals of unlocking growth opportunities and solidifying its position as a premier listing hub for flagship domestic and international businesses.
SET is therefore seeking feedback on the following proposed amendments to free-float requirements for new listings on SET and mai:
- Revision: Free float requirements for new listings of companies with paid-up capital of THB 10 billion or higher are revised as follows:
- Reduction of minimum free float from 20 percent to 17 percent of paid-up capital
- Revocation of free float distribution grace period
- Introduction: Where companies to be listed on SET and mai undertake any acts that will cause their free float distribution to fall below the thresholds stipulated by the listing regulations soon after listing on the Exchange, such companies shall be deemed non-compliant with the free float qualifications according to the listing criteria. This new provision aims to prevent circumvention of listing regulations.
The current listing maintenance criteria will be unchanged, requiring listed companies to maintain at least 150 minority shareholders collectively holding not less than 15 percent of paid-up capital.
The public consultation aims to obtain valuable opinions from stakeholders on the proposed amendments to the criteria as mentioned above. The consultation document and details are available on the SET website at www.set.or.th/en/rules-regulations/market-consultation under "Proposed Amendments to Free Float Requirements for New Listings of Large Corporations on SET and mai". Please share your feedback via the link https://forms.gle/6gre4xMu4qE9cgZx5 by March 18, 2025.
