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SEC to allow ASEAN Disclosure Standards for Thai companies? equity offerings



Monday 14 July 2014 | No. 99 / 2014



Bangkok, Jul 14, 2014 ? SEC Secretary-General Vorapol Socatiyanurak revealed that the Capital Market Supervisory Board has approved the revisions of rules on filing for equity offering by Thai incorporated companies in Thailand and other ASEAN members, simultaneously or in proximate period, under the ACMF framework. The issuers will be allowed to file with the SEC disclosure documents using ASEAN Disclosure Standards and thus enabled to file a single set of disclosure documents with several regulators. The filing must be prepared in Thai and English without different information in materiality and certified by all directors. In addition, an executive summary must also be distributed to investors together with a subscription form.

The ACMF framework refers to the multi-jurisdiction offering of equities in ASEAN countries which are signatories to the Memorandum of Understanding ("MoU") to establish cross-border offering framework. Malaysia, Singapore and Thailand are expected to sign the MoU by the third quarter of this year.