The Stock Exchange of Thailand (SET) will forward its demutualisation plan to the government while confirming that it has an option that does not include selling shares to the public.
Meanwhile, SET President Charamporn Jotikasthira said last week that he had not had a chance to talk with either Kittiratt, who is also deputy
prime minister and head of the economic team, or Finance Minister Thirachai Phuvanatnaranubala on the fate of the plan.
He added that following the Thai capital development plan, the SET was slated to become a private company, selling its shares to the public and then listing the shares on the stock market.
"However, it depends on whether the government will follow the plan or not," said Charamporn.
He said that there were |many options for the demutua-|lisation of the exchange as either a listed or non-listed company. Listing would increase the com-petitiveness of the SET, as it |could raise funds for expansion. |But if the decision is made not to select the listing option, it would use its retained earnings for expansion.
Charamporn said there was no stipulation in law for SET reform. But under the plan under consideration by the Office of the Council of State, the SET would be required to sell its shares to the public. The law specifies that the market has to be liberalised and its monopoly abandoned. The goal is to increase the efficiency and flexibility of the exchange in response to competition.
He said the SET was now developing its new automated information and technology system and expects it to be operational next July.
The finance minister has called a meeting today of the economic monitoring committee, which comprises representatives from the SET, the Federation of Thai Capital Market Organisations, the Board of Trade and the Federation of Thai Industries.
The committee will discuss the economic situation both globally and domestically.
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