Foreign issuers allowed to list on SET

BANGKOK, Nov 17 (TNA) – Stock Exchange of Thailand (SET) president Patareeya Benjapolchai on Monday revealed the exchange had allowed foreign issuers to be listed on the stock market taking effect from December 1 this year.

She said qualified applicants are required under the Securities and Exchange Commission (SEC) to list on a foreign stock market which is a member of the World Federation of Exchange, have a market cap of no less than Bt10 billion, and stay listed on foreign stock markets for at least three years.

It is expected the Malaysia-base CIMB Group will become the fist issue listed on SET with 35 million shares. Shares of the group are likely to begin trading in mid-2010.

SET Senior Executive Vice President Vichet Tantivanich said encouraging foreign issuers to list on SET would enhance potential of SET and give investors an alternative investment channel.

In addition, it would help increase the trading value for securities companies and brokerage houses. (TNA)