The Securities and Exchange Commission (SEC) of Thailand is preparing to ban Thai investors from trading non-voting depository receipts (NVDRs), aiming to prevent fraud in the capital market.
Bangkok (VNA) - The Securities and ExchangeCommission (SEC) of Thailand is preparing to ban Thai investors from trading non-votingdepository receipts (NVDRs), aiming to prevent fraud in the capital market.
According to SEC secretary-general PornanongBudsaratragoon, the ban was endorsed by the SEC's Capital Market SupervisoryBoard and will be announced later.
NVDR, a trading instrument initiated by the Stock Exchange ofThailand (SET), allows foreign investors to invest beyond the foreign ownershiplimit.
🅠 Foreign investors holding NVDRs are eligible toreceive benefits, such as dividends, rights issues, and warrants, in the samemanner as if they invested in an ordinary share. However, they have no right tovote at company shareholders' meetings.
Although NVDRs have the objective of facilitatingforeign investment, they previously did not prohibit Thai investors from usingthis channel. Very few Thais traded NVDRs because they can fully trade via theSET main board with no limits on shares./.
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