Rule Summary
Besides listing on the SET, an infrastructure company may utilize its assets in raising fund in the form of infrastructure fund (Infra Fund). Setting up a mutual fund needs to get permission from the SEC and get the fund units listed on SET. Qualifications of the fund and its units are as follows:
Subject |
Details |
Definition |
Fund means an infrastructure fund or the Thailand Future Fund as the case may be. |
Features of the unit of an infrastructure fund |
- Be fully paid
- Holding bearer’s name
- No restrictions on transferring the trust units, except for the legal restrictions. Such restrictions must be stated in the project.
|
Features of an Infrastructure Fund |
- An infrastructure fund can invest in the infrastructure businesses, which refer to the following businesses as per SEC rule:
- Rail or pipeline transportation
- Electricity, waterworks
- Roads, special path, or commissioned path
- Airports
- Deep water port
- Telecommunication or ICT Infrastructure
- Alternative energy
- Water management or irrigation systems
- Natural disaster protection systems including the warning system and disaster mitigation system
- Waste management system
- Multi-infrastructure business comprising of complementary facilities, which are:
- Connected, or promoting mutual benefits, or beneficial to the community or its neighborhood; and
- Generating or having income contribution for no less than 80% of the composite revenue
- Infra fund going to list on SET must have the following qualifications:
- Approved by SEC
- Having the SEC-approved fund manager
- Having retail unit holders for no less than 20% of each listed tranche
|
Securities registrar |
Appointing Thailand Securities Depository Co., Ltd. (TSD) or other SET-approved persons to act as securities registrar |
Submitting listing request |
- Fund management firm submits the listing request
- Requesting listing for all issued fund units
- Submitting the request, required documents, and application fee to SET
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Duration for listing consideration |
The SET will consider listing request within seven days upon receiving complete and correct documents |