The new exchange planned as a fundraising venue for small and medium-sized enterprises (SMEs) and startups is expected to take shape at the meeting of a committee tasked to develop Thailand's capital markets on Jan 30.
The new exchange platform will take the form of a crowdfunding site on the internet, unlike conventional bourses where investors buy and sell equities on a trading board, said Finance Minister Uttama Savanayana.
Venture capitalists will be the only investors permitted to plough money into the new exchange, he said.
The government has tried to use the capital market as a fundraising channel for SMEs to help small-business operators access funding sources and enlarge their business.
Jomkwan Kongsakul, assistant secretary-general of the Securities and Exchange Commission (SEC), said recently that SMEs could perhaps list on the new exchange with no minimum paid-up capital requirement.
The SEC is considering having an independent advisory body and auditing committee or adhering to international accounting standards, she said.
The new equity exchange will be organised and run by the Stock Exchange of Thailand (SET).
Mr Uttama said shares of medium-sized and large companies can easily change hands once they list on stock exchanges because they have ample shareholders, while small-business equity is marginal because of the small number of shareholders and low capital base.
The criteria for small-business listings should focus on information disclosure instead of financial performance, he said, adding that the SET must take responsibility in seeking small firms to list on the new exchange.
Related parties like the SEC and the SET should join forces in creating an ecosystem to encourage startups to build the innovation that will be a source of economic growth in the new era, Mr Uttama said.
The Finance Ministry will go digital, using blockchain as the backbone for development, he said, noting that moving towards the digital era shows that Thailand is entering an economic reform phase.
The government has a clear strategy and drivers to step towards economic reform, so investors are likely to be interested, Mr Uttama said.