securities and whether they are offered privately or publicly. These are important factors to determine the level of impact: Type of securities Who offers the securities Nature of offers Regulations New
Placement (PP) – in case of a non-listed company The nature of offers is one of the following: The value of offer is ≤ 20 million baht. There are ≤ 50 investors. Being an institutional investor. No need to
the SEC. 4.2 As for a country fund which is a mutual fund that offers all investment units for sale to investors who are not domiciled in Thailand, the mutual fund management company may prepare the
shares at a discount causes dilution effect to the shareholders. Therefore, offers must be reasonable and there must be a process that allows shareholders who are affected by dilution to take part in the
financial reports must be audited and given opinions by the auditors who has been approved by the SEC. 4.2 As for a country fund which is a mutual fund that offers all investment units for sale to investors
five years (only those offered at a low price) In case of a possible low dilution effect: Means offers for sale in other cases which do not create possible high dilution effect Summary of ESOP
meet the criteria specified in the SEC regulations to be listed on the Thai stock exchange and offered to investors in Thailand. This offers the investors the flexibility to trade the units of foreign
Thailand. This offers the investors the flexibility to trade the units of foreign ETF on the Thai stock exchange, just like stocks. Regulatory Summary Related Rules and Regulations Related Forms
price lower than the IPO price. during the six months period before submitting the application, if the company offers to sell PP shares at a lower price than IPO shares, such shares must be in silent