Foreign companies will be able to float shares in initial public offerings in Thailand for the first time under new rules to be announced by the Thai Securities & Exchange Commission.
Thailand is No. 11 in the Asian equity market, and the decision announced yesterday by SEC chief Vorapol Socatiyanurak is designed to increase the kingdom’s competitiveness with Hong Kong and SIngapore in regional listings.
“Thailand wants to compete with Singapore and Hong Kong to become one of Asia’s funding centres,” Vorapol said. “Thai investors are also in desperate need for new stocks and investment alternatives for their savings.”
A number of Chinese companies have shown interest in selling via the Thai market, Vorapol said, and his agency will formally announce its rules later this quarter.
For more information, read the Bangkok Post report here.
Photo: Simon Cunningham
