Thailand – SEC Takeover Threshold

Thailand – SEC Takeover Threshold

On 7 February 2019, Thai SEC proposed improving rules for trading securities.

  • Consulting on improving rules for reporting acquisition or disposal of securities and holding securities for business takeover in order to ensure greater clarity.
  • Proposed changes
  • The seller and the purchaser of securities must submit a report on the acquisition or disposal of securities within five business days from the closing of the offer.
  • The applicant must report the shareholding structure of other legal persons which are counted as the same person in the case of complex group of companies.
  • Tender offeror delisting shares must bring the highest price that a person in their group purchases such shares during the 90 days before submitting tender offer.
  • Plans to cancel report on holding of NVDRs to the SEC in order to reduce burden.
  • For improving rules to encourage the transmission of information in the form that computer can read, process immediately, will also gradually cancel hard copies.