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ARTICLE · 20 NOVEMBER 2024

Thai SEC Proposes Changes To Takeover Rules

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Thailand's Securities and Exchange Commission (SEC) has announced a public hearing on proposed amendments to takeover regulations under Thailand's Security and Exchange Act B.E. 2535 (1992)...

ThailandCorporate/Commercial Law
Patcharaporn Pootranon
Patcharaporn Pootranon
Veerakorn Samranweth
Veerakorn Samranweth
Narita Sakunchotikarote
Narita Sakunchotikarote
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Thailand's Securities and Exchange Commission (SEC) has announced a public hearing on proposed amendments to takeover regulations under Thailand's Security and Exchange Act B.E. 2535 (1992) (and the regulations issued thereunder) that have the potential to reshape the country's market for takeovers. The proposed changes, which have not yet been compiled in a formal draft regulation, may affect acquisition planning but could also help reduce unnecessary regulatory and administrative burdens. The SEC is accepting comments on the proposed changes through its website until November 30, 2024.

The key proposed changes are detailed below.

  • Alignment of tender offers and reporting under Section 246: Previously, Section 246 (reporting of acquisition/disposition upon reaching or crossing any multiple of 5% shareholding) focused only on group shareholding changes, while Section 247 (tender offer obligation) looked at both groups and individuals to trigger tender offering

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