e-IPO service set for launch
Thailand Securities Depo-sitory (TSD) will launch its electronic initial public offering (e-IPO) subscription service by the end of the month, said Sophavadee Lertmanaschai, senior executive vice president of the Stock Exchange of Thailand.
The system allows investors to subscribe to securities and track their performance on the Internet. The e-IPO service was implemented once before by Settrade.com but failed to at-tract sufficient interest from investors. TSD reported that in the first six months of this year 85 per cent of listed companies made their dividend payments via TSD's e-dividend service, lowering the amount of payments returned by cheque. "Following the success of the e-dividend service, the number of cheques returned to TSD fell by 30 per cent," Sophavadee said. TSD joined up with nine commercial banks to launch the e-dividend service, paying into around 600,000 accounts, equivalent to 53 per cent of shareholders.
Piyarat Setthasiriphaiboon The Nation
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