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TH · APAC · Main Board
Stock Exchange of Thailand
SET · Bangkok · THB
Thailand's main board — strong consumer and energy franchises with solid regional institutional coverage.
Eligibility · Meridian Renewables (example)
Conditional
1 requirement(s) not yet met — see eligibility below.
Min market cap
$85M
admission floor
Min free float
25%
public hands
Est. all-in
5.3%
on $700M
Time to list
20–24w
from kickoff
Regulator
SEC Thailand
oversight
Eligibility check
✓
Market capitalisation
Requirement: ≥ $85M
$4.8B
✕
Free float
Requirement: ≥ 25%
~15%
✓
Operating history
Requirement: ≥ 3 yrs
11 yrs
✓
Profit / revenue test
Requirement: Profit test (2–3 yr)
Profitable
!
Governance standard
Requirement: CG Code (SEC Thailand)
Gaps
✓
Accounting
Requirement: TFRS
IFRS
Rules as of 2026-Q2 · source: SET Listing Regulations (SEC Thailand, TH). Compiled summary — validate against the primary source before filing.
Fees & cost
Est. all-in · $700M raise$37M 5.3%
Underwriting spread4.5% · $32M
Initial listing feeTHB 0.9M
Annual feeTHB 0.5M
Legal · audit · IR · other$5.5M
Total all-in$37M (5.3%)
Market quality & investors
Liquidity★★★☆☆
Analyst coverage★★★☆☆
Retail participation★★★★☆
Institutional depth★★★☆☆
Index inclusion
SET50
Aftermarket: +15% avg first-day
Process & sectors
Typical time-to-list20–24w
RegulatorSEC Thailand
Dual / secondary listingNot standard
Min public shareholders1,000
Sector strength
ConsumerEnergyFinancialsRealEstate
Notable listings: PTT, CP All
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