Stock Exchange Of Thailand: Foreign Investors Hold NVDRs With Underlying Shares Over 59% Of Listed Companies

Mr.Vicharat Vichit-Vadakan, President of the Stock Exchange of Thailand (SET), disclosed regarding trading in Non-Voting Depository Receipt (NVDR), which began trading on June 11, 2001. "Only 15 days since introducing trading in NVDRs, " he said, "investor interest in the instrument was beyond expectations, with trading spread over many industry sectors. The sectors receiving most interest were Communication, Banking and Energy respectively. As of June 29, 2001, investors held NVDRs with underlying shares in 195 companies out of the total 333 listed companies (not including 48 companies with temporary suspensions as of June 29, 2001). This is equivalent to 59% of all the listed companies on the SET."

"Although foreign investors trading NVDRs do not have the right to vote at shareholders' meetings, these figures show that the NVDRs have received great interest from foreign investors. It is believed that this new instrument will receive increased interest from foreign investors, which will help stimulate trading on the SET as trading volumes coming from foreign investors demand will create demand on the SET." Concluded Mr.Vicharat.