Benefits provided by Market for Alternative Investment (mai)
Preparation processes
The applicant companies must prepare both business and legal perspectives as follows:
Understand roles and responsibilities of committee |
- Board of Directors and Management team understand their roles and responsibilities under the Securities and Exchange Act.
- Board’s structure must have checks and balances.
- Qualification and appoint committee which have skill experience and time for company.
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Re-structuring company’s business |
- Establish a good company structure to avoid any conflict of interest.
- Operating business with transparency and accountability.
- Consider compliance in regard to all related parties transactions.
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Prepare the internal control assessment |
- Create and maintain a good internal control process system (Checks and Balances)
- Have a clear authorization procedure
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Prepare the accounting system |
- Prepare for Financial Reports in accordance with accounting standards
- Prepare for CFO and Accounting Manager
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Corporate preparation with
FA and Auditor |
- Provide financial advisor to work together with Auditor
- Pre-consult with SEC and mai
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Note : Estimate preparation time based on the assumption that company is ready to list or the company may not have many issues.
Preparation and Timeline
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Time |
Details |
18 - 24 months before filing |
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Study relevant rules and regulations, such as the Public Company Act, SEC rules and regulations governing the issue and the offering of securities to the public, and SET listing rules and regulations. |

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Appoint a financial advisor approved by SEC for advice and preparing the company. |

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Discuss company information with a financial advisor in order to examine the applicant’s qualifications and make appropriate adjustments in accordance with relevant requirements. |

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Prepare a schedule and an information preparation plan. |

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Restructure the shareholdings of the applicant and the other companies in the group. Remove existing or potential conflicts of interest and establish a suitable corporate governance system. |

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Engage an auditor to prepare financial statements and other accounting reports in line with accepted standards. |

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Establish the authority of the internal audit activity and review the definition of internal auditing. |
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Establish an audit committee. |

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Practice the preparation of financial statements ready to disclose at least 2 quarters to make sure company is able to submit before deadline. |
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Prepare an initial public offering (IPO) application and relevant documents to submit SEC and mai. |

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Pre-consult important company issues with SEC and mai. |

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Plan and research pricing method and distributions of securities. |

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Prepare a public relation plan to promote IPO stock. |
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1 - 2 months before filing |
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Convert to a public company limited. |

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Establish a provident fund. |

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Appoint a share registrar. |

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Prepare timetable for FA working paper, Auditor working paper, Company visit and management interview by the SEC. |

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Prepare the listing application and relevant documents. |
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Submit the listing application to SEC and mai. |

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Prepare for company visit and management interview by the SEC. |

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Distribute shares to public. |

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First Trading Day. |
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Note : Estimate preparation time based on the assumption that company is ready to list or the company may not have many issues.