Thailand plans to introduce a dual-class share structure by 2027 to attract more companies to list on the Stock Exchange of Thailand, addressing founder concerns about losing control during IPOs. The move aligns Bangkok with markets like Hong Kong and aims to deepen liquidity amid competition from regional financial centers. Kitipong Urapeepatanapong, chairman of Stock Exchange of Thailand, noted that many family-owned businesses avoid full listings due to takeover fears.
Thai companies have raised only 700 million baht ($21 million) through IPOs this year, down 95% from 2025 and on track for the lowest annual total since 2003. SET President Asadej Kongsiri cited Middle East conflict and high fuel costs as factors delaying IPOs, though he expects 2027 to be busy if the war ends. Family-owned businesses make up 705 of the 843 listed companies, with a combined market cap of 10.93 trillion baht, or 54% of total market value.
The stock exchange is working with the finance ministry and Securities and Exchange Commission on the amendment, expected to pass parliament this year.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing