The SEC is finally becoming a bit more clever in regards to PP’s, which if you remember has been a recent method for speculators to purchase a serious amount of shares and control the supply in the market.
Here are the measures that they will try to implement:
- One-fourth of the silent period shares would be allowable for trade six months later if the Stock Exchange of Thailand agrees to the one-year lock-up period..
- The lock-up requirement, if it comes into force, will not apply to creditors who agree to a debt-to-equity swap to ease the debt restructuring process or to institutional investors.
- In the case of private funds subscribed to privately placed securities, the silent period would be used.
- The silent period would not apply to leftover shares from a rights offering that are privately placed with specific investors at the same price as for existing shareholders.
Source: Bangkok Post