On 30 September 2019, Thai SEC updated on conditions for a tender offer.
- Regarding rules, conditions and procedures for securities acquisition for a takeover.
- Adds to the third paragraph of clause 11 of the notification of the capital market regarding rules, conditions and procedures for the acquisition of securities May, 2011.
- Clause 11 states that any person wishing to acquire shares in the business such that their shareholding reaches or exceeds any trigger point, shall be exempted from the requirement to make a tender offer if they submit an application for a waiver.
- Adds the condition that a waiver may be granted in an acquisition that is made for the shareholding structure adjustment of the business if the applicant can show the duty to make a tender offer will result from a change in the shareholding restructuring.
- This notification shall come into effect from 7 October 2019.