The Securities and Exchange Commission (SEC) has approved the first lot of digital bond offerings worth 6.7 billion baht.
The regulator said in a statement on Wednesday it launched a test of the DIF: Web Portal under a sandbox project to develop digital infrastructure to support digital debt securities transactions in the primary market starting on April 24.
Four issuers expressed their intention to offer digital bonds through the system.
The first four bonds were offered only to institutional investors with a combined amount not exceeding 6.7 billion baht, issued by Kasikornbank, Toyota Leasing (Thailand) Co Ltd, PTT Plc and PTTEP Treasury Center Co Ltd.
The SEC approved the filing of these four companies through the DIF: Web Portal under this sandbox project.
The system supports transactions, from filing approval to submitting reports after the sale is completed.
System testing with real users since the launch has provided services and delivered information as expected, according to the regulator.
The SEC said it will continue to monitor the test closely.
The DIF: Web Portal system is the starting point of the digital infrastructure development project of the Thai capital market the SEC initiated at the end of 2019.
The project is supported by the Capital Market Development Fund (CMDF).
The CMDF promotes Thai capital market development in a variety of efforts, including upgrading the capital market to become more efficient, faster and offering more secure digitalisation.
In addition, the fund aims to reduce costs and facilitate fundraiser and investor access to capital markets, as well as provide regulators with useful information for business development and capital markets, including more efficient supervision.
The system development project is included as part of the fourth capital market development plan, spanning 2022-27.