The Stock Exchange of Thailand (SET) and its subsidiary LiVE Exchange (LiVEx) are joining hands with the Office of Small and Medium Enterprise Promotion (Osmep) to provide SMEs and startups with educational resources pertaining to public fundraising on the exchange.
Prapan Charoenprawatt, executive vice-president of the SET, president of the Market for Alternative Investment (MAI) and president of LiVEx, said three companies are set to list on LiVEx in the third quarter.
Veerapong Malai, director-general of Osmep, said through its partnership with the SET, Osmep aims to empower SMEs and startups by helping them access fundraising through the capital market.
He said Osmep will connect the LiVEx platform through its SME Academy 365 system, which is an educational website that helps 3 million members and entrepreneurs to develop and prepare their businesses to enter the capital market.
Mr Prapan said the SET has issued the listing and trading criteria for LiVEx, with a goal to enhance the role of SMEs and startups in driving the country's economy under more flexible conditions.
The SET strives to support small businesses and prepare them for public fundraising and business expansion, he said. The bourse also encourages small businesses to work towards bigger goals, listing on the SET or MAI, Mr Prapan said.
The LiVEx platform previously formed partnerships with 28 organisations from the government, private sector, capital market, and universities to jointly develop various services and create readiness and growth opportunities for entrepreneurs.
In the future, Osmep and LiVEx will develop tools that are essential for businesses seeking to upgrade as well as helping SME entrepreneurs and startups to reduce development costs, he said.
Mr Prapan said some SMEs have filed documents with the Securities and Exchange Commission to raise funds on LiVEx.
Three companies in the IT, social marketing and food sectors are preparing to raise funds on the primary market and trade on LiVEx, he said. As the approval process takes roughly 165 days, the SET expects these companies to begin trading in the third quarter.