With the view to ensure more effective oversight, the SEC has sought comments on the proposed revisions regarding the issuance of debt securities of the LiVEx listed companies,* such as determination of criteria for application for approval for issuing and offering of debt securities in line with non-listed companies and duties for preparing and submitting reports on financial condition and business operation after the offering. 

Furthermore, the SEC has proposed a revision to the timeline for submitting financial statements for the six-month period and the annual financial statements of the LiVEx listed companies. This will require the companies to submit financial statements within three months after the end of each accounting period to be aligned with the timelines for other reports as prescribed in Section 56 of the Securities and Exchange Act B.E. 2535 (1992).

The consultation paper is available in Thai version only at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=923. Stakeholders and interested parties are welcome to submit comments and suggestions on the website or via email: debt@sec.or.th. The public hearing ends on 14 August 2023.   

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Remarks:

*Presently, public limited companies can issue and offer new shares and list them on LiVEx. The listing criteria for considering companies' qualifications, the information disclosed in the registration statements (filings), and post-offering duties are more lenient compared to the requirements for public offering of shares and be listed on the Stock Exchange of Thailand (SET) and the Market for Alternative Investment (mai). They are also not required to apply for the SEC’s approval. Therefore, the regulations on application for approval for issuing and offering debt securities of listed companies on LiVEx should follow stricter criteria, similar to issuers that are non-listed companies.