Chinese companies cannot list here as holding firms: SEC
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THE Securities and Exchange Commission has slammed the brakes on the listing of Chinese firms on the Stock Exchange of Thailand as holding companies.
“It would be difficult to monitor and regulate them if any problem arises,” Chalee Chantanayingyong, SEC deputy secretary-general, said yesterday.
The Chinese securities watchdog, after their discussion, would not be responsible for Chinese companies if they were listed here as holding companies, he said.
“Chinese companies that are interested in being listed in Thailand as holding companies can enter the Thai market through direct listing,” he said.
Sirivipa Supantanet, SEC director for corporate finance and equity products, said the commission also was preparing to amend a regulation for securities offerings to require prospectuses to be attached to share subscriptions.
The prospectuses would include details such as the number of shares offered, prices, pricing method and listing method, business, risks and management structure, and financial status.
“Although such information appears in filings, investors rarely open them to study,” she said.
After the amended announcement passes a public hearing and gains approval from a committee, it would be forwarded to the Capital Market Supervisory Board, she said.
The new rule is expected to be applied this year.
