SEC adjusts qualification criteria Companies requesting to offer "IPO shares" will be more clearly defined.

On February 2, 2566, the Office of the Securities and Exchange Commission (SEC) stated that the SEC issued an announcement to improve the criteria for allowing newly issued shares to be offered to the public (IPO) regarding Clearly define the company's qualifications regarding not being involved in illegal businesses. So that the criteria are in accordance with the spirit and the company can comply with the said criteria effectively.

According to the Capital Market Supervisory Board, in its meeting No. 13/2564 on October 19, 2564, it was agreed in principle to revise the IPO criteria regarding the qualifications of the company in terms of not being involved in any illegal business. The law is in line with the rules for offering newly issued shares by public limited companies to become listed companies on the Live Exchange Stock Exchange. The SEC is open to hearing opinions on this matter from those who Relevant from May - June 2565 then

The SEC has therefore issued an announcement to improve the criteria for granting approval for the offering of IPO shares in relation to determining the qualifications of companies in terms of not being involved in illegal businesses. The important points are as follows:

1) Clearly improve the wording regarding the qualifications of companies requesting permission to offer IPO shares in terms of not being involved in illegal businesses. It does not include offenses in insignificant matters. or offenses that are not directly related to the main business of the company. In this regard, the business operations of the company requesting permission must not be involved in businesses that seriously violate the law, such as human trafficking, production or distribution of drugs. or money laundering, etc. and must not carry out any operations that violate or fail to comply with the law which may cause the company's business to be seriously and significantly affected.

2) Authorize the SEC to set detailed guidelines regarding consideration of cases that are serious violations of the law. or could have serious and significant impacts

In addition, the revised criteria will apply to both Thai and foreign companies offering primary listing* and secondary listing**. The revised criteria will be published in the Royal Gazette and will be effective from February 1, 2566. onwards

*Primary listing means an offering of shares of a foreign company that does not have its shares traded on a foreign stock exchange.

*Secondary listing means an offer for sale of shares issued by a foreign company that has or will have its shares traded on a foreign stock exchange.