"Presently there are 16 securities in which the par value has changed. Out of these 16, six changed from a par of ten to five baht. Another 10 changed from ten to one baht. There is an increasing trend that more and more securities may have their par value decreased. Plus this means the number of securities in the market may increase 10 times in the future.'
'Therefore, to accommodate the change in par value and facilitate the trading of securities, the Board deems it appropriate to raise the ceiling of orders from one to ten million shares, which is proportionate to the change in par value of these securities," said Mr. Kittiratt.
Regarding the revised stabilization rules, SET allows purchasing orders for delivery of over-allotted shares to be the same as other buy and sell orders. This means that the order will be queued by price and time priority whereas the old rules ranked the purchase order as the last priority if the bidding price is the same as other orders.
Moreover, all purchasing order share volumes will be publicized, whereas only 1,000 shares volume were published in the past. The bidding for the purchase of shares will also be allowed in the pre-opening period whereas this was allowed only during daily trading hours.
"The new criteria will enhance securities companies' ability to expedite the purchase of the over-allotted shares in a more convenient manner. However, this revision will not affect shares prices as the bidding price cannot be higher than the highest price bid at the time of the auction by another member, or no higher than the last trading price, or no higher than the price of shares offered to the public, whichever is the lowest at the time," SET president concluded.
