The Stock Exchange of Thailand is planning to set up a new bourse listing startups and other small cap companies in 2017.

The Stock Exchange of Thailand (SET) announced its strategic plan for 2017, driven by the vision “To Make the Capital Market ‘Work’ for Everyone.”

To continue strengthening SET’s leading position in ASEAN, boosting market growth in term of both fund mobilization and investment activities and ensuring high quality standard in all operational platforms are core missions.

Thailand currently has two bourses, which are the SET and the Market for Alternative Investments. However, the criteria of both exchanges are difficult for startups to meet, for example, the minimum of registered capital and the requirement of profit for three consecutive years.

Meanwhile, SET aims to expand its fund raising coverage to competitive s-curve industry, startup businesses, as well as strengthening Thai aging society in term of wealth creation, reinforcing SET mission toward inclusiveness and sustainable growth.

“This is a new thing in Thailand and we are working on it including considering the new specific criteria and regulations for the third board. Due to high risk to invest in startups, we may not allow retail investors to trade on this board,” said SET’s president Kesara Manchusree.

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The goal is to develop the capital market for all stakeholders, while building up the foundation for the Thai capital market, economy, society, and the country in line with the government’s new economic model “Thailand 4.0.”

A particular focus will be put on seeking high competitiveness industries, while establishing
an ecosystem conducive for startup companies for fundraising.

This will be an addition to the country’s two established exchanges — the first-tier SET and second-tier Market for Alternative Investment, or mai — but will operate under “completely different regulations,” SET President Kesara Manchusree told the Nikkei Asian Review.