The Stock Exchange of Thailand (SET) is preparing to review criteria concerning disclosing the names of major shareholders of listed securities and investment companies, including for anyone with a stake of at least 0.5%.
The law currently requires the names of a listed company's 10 largest shareholders to be disclosed.
The SET is holding a public hearing until Jan 5, 2024 to gather opinions from market participants to improve the criteria for disclosing names of major shareholders of securities and investment companies, the bourse said in a statement.
The review of the disclosure rule aims to provide investors with more complete information to make investment decisions and comply with the policies of the Securities and Exchange Commission (SEC), said the SET.
"The criteria for disclosing the names of major shareholders of listed securities and investment firms has been revised," noted the statement.
"The new rule requires the disclosure of the names of shareholders with at least a 0.5% share of a company's paid-up capital, with no fewer than 10 people."
The new criteria applies to listed securities and investment companies, investment trusts, infrastructure funds and real estate funds, according to the statement.
The SET is also improving the criteria for listed investment companies according to a definition set by the SEC, reviewing the measures for posting C (caution) and SP (suspension) signs on such companies.
Stricter criteria will also be applied when the SET decides whether to delist such firms, noted the statement.
The shift aims to improve the efficiency of supervising listed companies, according to the SET.
A document pertaining to the public hearing and offering details was posted on the SET's website at https://www.set.or.th/th/rules-regulations/market-consultation under the heading: "Improving the rules regarding disclosure of the names of securities holders and listed companies that are investment companies".
Interested parties can express their opinions until Jan 5, 2024.