The Stock Exchange of Thailand (SET) will shorten the initial public offering (IPO) time frame to enable IPO shares to trade on the exchange within three working days after the subscription date ends, down from the previous four working days, to reduce risks for stockholders, effective from September 9.
In addition, releasing news about an impending IPO will be one day prior to the first trading day, and will be before 09:00 a.m., down from the previous timing of two days before the first trade.
SET’s Senior Vice President Paveena Sriphothong said; “SET cooperated with other parties by shrinking registration procedures at the Ministry of Commerce, shortening securities deposit procedures at broker members for transferring shares to client accounts, and accepting common shares as registered securities. This time reduction reduces risks for stock buyers, enabling them to trade new share issues sooner. Also, this change gives a choice of timing for IPO issuers and financial advisors.”
The change of timing in releasing news will be applied for IPOs and all kind of securities, such as common shares, preferred shares, fund units, infrastructure funds, trust units for property, warrants, transferable subscription rights, derivatives warrants, fixed income units, and new share issues. For more information, investors can follow SET’s information dissemination at www.set.or.th