Summary
A type of fundraising as infrastructure trust for general investors needs to get permission from the SEC and get the trust units listed on SET.
Subject |
Details |
Feature of the Unit Trust
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Unit trust refers to the trust certificate that bears entitlement of the holder in receiving benefits from trust as specified by SEC rules.
- 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 trust deed.
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Feature of Infrastructure Trust (Infra Trust) |
- An infra trust refers to the trust that invests in infrastructure projects as prescribed in SEC announcement. Assets of the infrastructure project include:
- 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
- To list on SET, an infra trust must have the following qualifications:
- Approved by SEC
- Having the SEC-approved trust manager and SEC-licensed trustee
- Having retail trust holders for no less than 20% of each listed tranche
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Securities registrar |
Appointing Thailand Securities Depository Co., Ltd. (TSD) or other SET-approved persons to act as securities registrar |
Submitting listing request |
- The trust founder (person who is going to be the trust manager when a trust is founded) submits listing request
- Requesting listing for all issued trust units
- Submitting the request and required documents, plus paying 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 |