SET Eases Listing Rules to Attract New Economy and Foreign Firms

The Stock Exchange of Thailand (SET) is easing its listing requirements to attract New Economy companies and leading foreign firms, strengthening Thailand’s capital market as an international fundraising hub. The revised rules will take effect on September 11. The changes open greater access for companies in 10 targeted New Economy industries, including advanced agriculture and food, medical and health advances, next-generation automotive, aviation and logistics, digital and e-commerce, smart electronics, and robotics. Companies promoted by the Board of Investment (BOI) and Eastern Economic Corridor (EEC), as well as leading foreign companies, will also have greater opportunities to raise funds through the Thai capital market. SET President and CEO Asadej Kongsiri said the structure of businesses listed on Thailand’s capital market had changed little over the past 30 years, while New Economy industries were expanding rapidly and needed accessible sources of capital. He said the revised listing rules represent an important step in upgrading Thailand’s capital market under the SET’s three-year strategy for 2026-2028, which operates under the vision “The Trusted Gateway to Inclusive Opportunities.” The new rules will allow BOI- and EEC-promoted companies and leading foreign firms to access the Thai capital market more easily while maintaining existing standards for quality, financial strength and disclosure. The changes also aim to give Thai investors greater opportunities to participate in the growth of future-oriented industries. Under the revised rules, companies in the 10 targeted New Economy sectors will receive updated qualification requirements designed to make listing and fundraising more attractive. A special track will also be introduced for companies promoted by the BOI and EEC, taking into account the characteristics of their businesses. For foreign companies already listed and raising funds on overseas stock exchanges, the SET will allow greater use of a Secondary Listing route. The rules will continue to require sufficient trading volume and liquidity for their shares on the Thai market. Foreign companies listed in unrecognized countries will remain subject to requirements similar to Thai companies, including standards covering business quality, financial condition, operating performance, free-float requirements and disclosure. The SET is also revising Silent Period requirements covering both the proportion of shares subject to restrictions and the duration of the restrictions for all companies seeking a listing. Strategic shareholders will still be required to retain their shares for an appropriate period to maintain investor confidence. The revised rules were approved by the Securities and Exchange Commission following consultations with stakeholders and will take effect on September 11. The 10 targeted New Economy industries are advanced agriculture and food; biofuels and biochemicals; medical and health advances; creative tourism; next-generation automotive; aviation and logistics; digital and e-commerce; smart electronics; robotics; and technology and innovation development, including biotechnology, nanotechnology, digital technology and advanced materials.