Thursday, August 20, 2009

Thailand's SET amends rules to welcome foreign companies

The Stock Exchange of Thailand on Thurday amended the listing rules to welcome listed foreign companies to the Thai bourse.

"Initially, the SET will allow dual listings of overseas-listed companies and the companies must be listed in the countries which have forged cooperation with the Securities and Exchange Commission in terms of information exchange and legal investigation. This is to ensure that the companies have been screened by overseas exchanges to assure investors," said Executive Vice President Suthichai Chitvanich.

This decision is in line with the Thai exchange's policy to strengthen international network, increase the number of products and reduce listing obstacles.

Four more criteria to be placed on the foreign issuers concern the financial results, liquidity of shares, representation in Thailand, and information disclosure.

The rules would be submitted to the Securities and Exchange Commission for approval.

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