Thailand to launch stock exchange for startups

Dec 06, 2016 (LBO) - Thailand is launching a new stock exchange that caters to startups, according to a report by the Nikkei Asian Review. Companies could list on the very day they are established, even without any record of earnings, Kesara Manchusree, president of the Stock Exchange of Thailand (SET) said.
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For most startups, the early months of their inception is about building their Minimum-Viable-Product (MVP) or finding the right product market fit. The new exchange will be unlike Thailand’s two existing stock exchanges — SET and mai — which are tightening regulatory rules and other criteria amid a surge in listings, in part due to second- and third-generation family businesses seeking to go public. The proposal for the new exchange, which will redefine crowdfunding, is still being drafted, but the expected roll out will be in the third quarter of 2017. They can choose to issue equity and non-equity products including bonds and options. Investment may, however, be limited to accredited investors, but that detail has not been finalised. Investors could receive dividends in the form of company products or other benefits instead of cold hard cash. Investors may also become board members in some cases.