An asset management company which has issued Closed End Fund ...

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Listing Manual

For Investment Un
its


The Stock Exchange of Thailand

February 2000


2


INTRODUCTION


As a company expands it business, additional funding is usually required to support
expansion and further investment. For a quarter of a century, the Stock Exchange of
Thailand (

SET

)
has served as an important center for the raising of such capital. A
listing on the SET provides asset management companies issuing investment units
(Closed End Fund category) with a new liquidity channel
-

while sending an important
message to investors t
hat the company has complied with Exchange regulations and met
SET standards for listed products.




LISTING CRITERIA



To apply for initial listing on the Stock Exchange of Thailand, investment units must
comply with the following criteria:


1)

Be approv
ed by the Securities and Exchange Commission (

SEC

);

2)

Have no less than 250 unit holders on the application filing date;

3)

Have competent and ethical management and staff who perform their duties in
accordance with the Codes and Standards specified by securi
ties business
-
related
organizations, approved by and registered with the SEC;

4)

Investors


names must be specified;

5)

Be transferable, except where necessary to comply with the law or regulations
approved by the Board and included in the mutual fund project;
and

6)

The transfer must be approved by the registrar at the SET.



DOCUMENTATION REQUIREMENT FOR LISTING


Each application must consist of the following:


a)

completed listing application form;

b)

five copies of prospectus;

c)

report or certification from a legal
advisor regarding the transferability of
investment units;

d)

a copy of the mutual fund

s incorporation or formation letter;

e)

a copy of SEC certification regarding the registration of the mutual fund

s assets;

f)

share distribution report prepared by the registra
r;

g)

a report of the latest amount of securities investments of the mutual fund, calculated
at cost and at market value, and categorized by security;

h)

a report of the latest net asset value to investment unit;

i)

information memorandum in both Thai and English

together with a diskette


For asset management companies with no prior investment unit listing at the Exchange,
additional documents are required as follows:


3


a)

listing agreement;

b)

a name list of coordinators with the Exchange with regard to information
diss
emination through the Electronic Company Information Disclosure System
(ELCID);

c)

a completed application form for general membership of the SET Information
Management System (Regular SIMS).




LISTING PROCESS










Asset Management Company










Public Offering Application









Securities and Exchange









Commission (SEC)




Listing Application and


Accompanying Documents SET








SET




Public Offering








All the required documents


have been submitted
Share Distribution Report





2 working days






Trading Begins



Note
: Applications will be considered withi
n 7 days following the submission of complete


application documents to the Exchange.



4

CORPORATE INFORMATION DISCLOSURE



To ensure fair and orderly securities trading at the Exchange, listed companies are
required to meet SET information disc
losure requirements and keep the investing public
informed of company developments through the disclosure of sufficient, accurate and
timely information as necessary for investment decisions. Investors must also be given
equal access to such information.
The company is responsible for reporting information
on listed investment units as follows:


1. Information reported on a regular basis:




reviewed quarterly financial statements (within 45 days from the end of the
accounting period)



audited financial stat
ements (within 3 months from the end of the accounting
period)



annual report and AGM notice (within 110 days from the end of the fiscal year
accounting period)


2. Additional information reported as may be required:




Any changes in the company

s head off
ice address, share registrar or the auditor
of the listed mutual fund must be made public within 3 days;



Three copies of the minutes of the ordinary annual shareholders


meeting or
extraordinary shareholders


meeting (if any) must be submitted within 14 da
ys
after the meeting;



The share distribution report must be submitted within 14 days of the share
transfer closing date;



The asset management company must notify the Exchange at least 14 days in
advance of the share register closing date or the date of con
ferring any rights to
shareholders; and



Net Asset Value (NAV) must be disclosed at least once a week.



LISTING FEES




Application Fees


Bt. 30,000



Initial Fees



0.025% of total investment units


value


(Min
-

Max)



(Bt. 50,000
-

Bt. 100,000)



Annual Fee
s



0.025% of total investment units


value


(Min
-

Max)



(Bt. 50,000
-

Bt. 100,000)


Note:

Annual fees will be calculated base on listing duration.








5




For additional information, interested companies are invited to contact:











The Stock Exchange of Thailand Building




62 Rachadapisek Road, Klongtoey, Bangkok 10110




Tel. 229
-
2019,2029,2025




http://www.set.or.th

Filename: unit_manual_eng.doc