Securities and Exchange Commission unveils new IPO regulationsThe Securities and Exchange Commission (SEC) has announced new criteria for companies wanting to raise funds through an initial public offering (IPO), requiring the names of 40 major share allocators to be disclosed at least two days before shares start trading on the bourse. Under the updated requirement, companies have to disclose the information about those receiving the IPO shares and shareholders after the IPO, including the number of shares that are prohibited from selling under the lock-up requirement, the regulator said in a statement. Such information must be reported two business days before the first trading day of those IPO shares or within 30 days from the IPO's closing date, whichever day is due first, it added. It applies to companies that submit effective securities offering registration forms after the effective date, noted the statement. The proportion of program trading since the first day of trading until March 1 had not changed significantly.

Source: Bangkok Post March 05, 2024 15:31 UTC