• Thai SEC proposed update on takeover regulations to clarify, to align with international standards, reduce private sector burdens while maintaining regulatory oversight.

Proposal

• Revises the responsibilities for takeover offers when acquiring shares directly or through legal entities, ensuring consistency in compliance and reporting duties.
• Include exemptions from mandatory offers in cases like legal compliance unrelated to control, restructuring within the same control group, and equity rights offerings.
• Establishes fair pricing guidelines for indirect takeovers via other entities and defining approaches for situations where shares are acquired without direct compensation.
• Introduces guidelines for partial offers, waivers through shareholder consent (whitewash), and adjustments to Form 247-4 to reflect updated regulatory practices.

Consultation Period

• The consultation is open until 30 November 2024.