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Investment Banking

Maybank Kim Eng Securities (Thailand) Public Company Limited ("MBKET") has been a leading broker in terms of market share in Thailand since 2002, and is ranked number 1 in underwriting the amount and number of issues for IPO-related deals in the year 2003. It was also number 1 securities companies which lead managed fixed-income type instruments for Thai corporate. Moreover, it is introducing equity-linked instruments to redevelop such market again in Thailand.

MBKET has granted full licenses from the Ministry of Finance (MOF) including Securities Brokerage, Securities Trading, Securities Underwriting and Investment Advisory as well as a Financial Advisory license granted by The Securities & Exchange Commission of Thailand (SEC).

MBKET’s Investment Banking has organized its product line to focus on its business strength and provides full securities services including Financial Advisory Services for listing on the Equity / Equity-linked Capital Market, Debt Capital Market, Financial Advisory and New Instruments.

Our IB team continues to successfully offer a full range of financial services for major corporations with strong proven track records. With our ambition to become the premier regional financial services provider, we aim to grow our business through the effective, efficient and successful delivery of our services as follows.

Our Products & Services

  1. Equity / Equity-linked Capital Market
    - IPO / PO / PP
    - Privatization
    - Listing and Going Public
    - Dual Listings
    - Listing in Singapore

  2. Debt Capital Market
    -Baht Debentures
    -Loan
    -Property Funds
    -Securitization
    -Project Finance
    -Structure Finance
  1. Financial Advisory Services
    -Mergers & Acquisitions
    -Financial Partners and/or Strategic Partners
    -Strategic Partners
    -Independent Financial Advisor
    -Joint Ventures
    -DI Fund Placements
    -Debt Restructuring

  2. Global Wholesale Banking
    -Corporate Banking
    -Multi country Multi Currency Cash Management
    -Trade Financing
    -Transaction Banking
    -Treasury

  3. New Instruments
    -Convertible Debenture
    -Warrants and Options
    -Derivative Products
Track Record

 

 

Listing Criteria

Listing Requirements

 

SET

MAI

1. Company Status

Must be a public limited company, or
company established under a special law.

The same as the SET

2. Paid-up Capital after IPO
(in Millions of Baht)

>= 300 MB

Must be at least 20 MB, but less than 300 MB

3. Distribution of Minority 
Shareholding 
- No. of Minority Shareholders*

- No. of Shares Held by Minority Shareholders




 >= 1,000


 >= 25% of paid-up cap 
(may be waived 1 year for the company with paid-up cap. >= 10,000 MB)




 >= 300


 >= 20 % of paid-up capital after IPO

4. Public Offering
- Approval

- No.of Shares to be Offered to the Public




- Offering Method

 

Must be granted an approval by the SEC

- For any companies with paid-up cap.< 500 MB., >= 15% of paid-up cap.
- For any companies with paid-up cap. >= 500 MB., >= 10% of paid-up cap or 75 MB., whichever is higher

Offered through an underwriter

The same as the SET

 >= 15 % of paid-up cap

The Same as the SET

5. Track Record and Market
Capitalization

- Track record: >= 3 years in operation 
- Same substantial management: >=1 year 
- Net profit: > 30 MB in the latest year and 2 or 3 most recent years profit of >=50 MB with accumulated profit for the submission year)

- Track record: >= 2 years in operation
- Same substantial management: >=1 year
- Net profit >0 in the latest year prior to listing

or

- Track record: >= 1 years in operation
- Same substantial management: >=1 year
- Market cap >=1,500 MB.

6. Financial Condition and 
Liquidity

- Stable financial condition and sufficient 
working capital 

- Shareholder's equity base of >= 300 MB

 

- The same as the SET

- Shareholder's equity base of >= 20 MB

 

7. Management
-Management and Control Persons



-Audit Committee

-Scope of the Audit Committee


-Independent Directors


- Qualifications should be in line with SEC regulations and should not posses any characteristics as prohibited by the SEC


- Appointed before listing

- Duties and responsibilities must be clearly defined as specified by the SEC

- No requirement. No need if already have 
audit committee

The same as the SET

8. Corporate Governance and
Internal Control

- Have good corporate governance 
practices and qualified audit committee

- Have effective auditing and internal 
control systems as specified by the SEC

The same as the SET

9. Conflicts of Interest

- No existing or potential conflict of interest

The same as the SET

10. Articles of Association

- Those of the listed companies as well as 
their subsidiaries must be in line with
the SEC& the SET rules and regulations. 

The same as the SET

11. Financial Statements and
Auditors

- Have been prepared in accordance with SEC rules and regulations as well as Thai GAAP applied to public limited companies 

The same as the SET

12. Provident Fund

- Must be established prior to listing

The same as the SET

13. Financial Advisor

- Must be appointed prior to listing 

The same as the SET


Silent Period Requirement

 

SET and MAI

Shareholders who are subject 
to silent period

Strategic Shareholders **

Number of shares subject 
to silent period

65 % of paid-up shares after the company’s public offering

Silent Period

1 year and 6 months from the first listing date. However, after 6 months, the shares subject to the silent period will be released 25% every 6 months.

Note:

* Minority shareholders mean persons who are not strategic shareholders. 
** By definition, strategic shareholders include:
- Government, SOE, Government Agencies
 
- Directors, managing directors and the company's top 4 managers
- Persons who hold more than 5% of paid-up capital after IPO, and
 
- Shareholders who are subject to silent period

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