The Stock Exchange of Thailand (SET) has launched a stock exchange board for small and medium-sized enterprises (SMEs) and startups through Live Exchange (LiVEx board) as a funding source for small entrepreneurs and startups. This is another interesting alternative and an important step towards becoming a listed company on the Stock Exchange of Thailand or the Market for Alternative Investment (mai) in the future.
The key of funding in the form of SME-PO and SME Board is adding alternatives to enhance liquidity and business growth. Medium-sized SMEs are an important part in driving Thailand’s economic system, allowing more SMEs and startups to access funding sources in the capital market.
However, securities in LiVEx are regulated in a different manner than those in the Stock Exchange of Thailand and the Market for Alternative Investment, with the important trading principles as follows:
Supervision
The listing of listed securities and performance of duties of a listed company are supervised and regulated in accordance with the nature of the company listed on LiVEx, such as the qualifications of a listed company and duties after listing on LiVEx, etc.
Investor Protection
Investor protection is limited to investor types and trading methods in compliance with Light Touch Supervision principles and investment risk levels.
Information-Based
Important information is disclosed. The listed companies are responsible for information disclosure in accordance with the specified requirements. The listed companies certify the accuracy and completeness of the information disclosed. In addition, the investors are allowed to follow up and ask for information from listed companies directly through the LiVEx Platform.
Disclaimer
Since trading methods and styles in LiVEx are different from trading in SET and mai, potential investors should study information and exercise caution in making investments to ensure that their investments are appropriate to their risk appetite.
In the event that a listed company’s information is disclosed through the LiVEx Platform, the Stock Exchange of Thailand is not responsible for the accuracy and completeness of the contents, figures, reports, or any opinions disclosed by the listed company through that system, and is not responsible for any loss or damage that may occur under any circumstances.
The requirements for fundraising in LiVEx are as follows:
1. It is a limited company (no need to transform to public company, unlike in SET and mai);
2. There is no minimum paid-up capital requirement;
3. There is no net profit requirement in performance;
4. Share distribution is not specified in the initial public offering (IPO);
5. There is no silent period. It depends on the agreement between the company and the shareholders;
6. Thailand Securities Depository Company Limited is appointed as a securities registrar;
7. Trading in the secondary market is based on dealing;
8. Payment date is due on T+1 basis (securities delivered and paid within 1 business day).
To invest in this type of business, the investors must have a stable financial position and have good investment knowledge. Investors are classified as follows:
EN
CN
DE
JP
TH
