The Stock Exchange of Thailand on Tuesday announced plans to list 28 new depositary receipts that are linked to a mix of stocks and exchange-traded funds from Asia, the United States and Europe. The exchange said trading in the newly issued instruments will commence on Wednesday.
Krung Thai Bank (BKK:KTB), a state-controlled lender, will issue the depositary receipts. According to the exchange, the new series covers a range of sectors, including semiconductors, electronics, artificial intelligence, clean energy, infrastructure and aerospace.
Among the Asian companies named in the lineup are Advanced Micro-Fabrication Equipment Inc (SS:688012) and Hua Hong Grace Semiconductor (SS:688347). U.S. firms included on the list are Dell (NYSE:DELL), Intel (NASDAQ:INTC) and Palantir (NYSE:PLTR). The European representation in the initial list includes aerospace manufacturer Airbus (EPA:AIR).
The announcement follows a similar market development earlier this year in Singapore, where the Singapore Exchange said in July it would offer depositary receipts tied to companies including SpaceX, Grab (NASDAQ:GRAB) and Sea (NYSE:SE). The SET noted that it has recently signaled intentions to revise its listing criteria with the goal of attracting new-economy and foreign companies to its market.
Officials did not provide additional details in the announcement about the exact composition of each depositary receipt or the underlying ETF allocations beyond the sectors and example companies cited. Market participants will be able to trade the instruments when the exchange opens trading on Wednesday.
Summary
The Stock Exchange of Thailand will begin trading 28 depositary receipts issued by Krung Thai Bank starting Wednesday. The instruments are linked to a variety of stocks and ETFs across Asia, the U.S. and Europe and target sectors from semiconductors to aerospace.
Key points
- The depositary receipts are issued by Krung Thai Bank, a state-controlled lender.
- The lineup spans semiconductors, electronics, AI, clean energy, infrastructure and aerospace, with example firms from China, the U.S. and Europe.
- The move follows a comparable initiative by the Singapore Exchange and aligns with SET plans to revise listing rules to draw new-economy and foreign issuers.
Risks and uncertainties
- Details on the precise composition and allocation of the depositary receipts were not provided in the announcement, leaving investors without full transparency on underlying holdings.
- Market reception and trading liquidity for the new depositary receipts are not specified, creating uncertainty for potential investors and secondary-market behavior.
- Broader outcomes of the SET's planned listing-criteria revisions are not detailed, so the extent to which these measures will attract new-economy and foreign companies remains unclear.