CIMB Thai Bank (CIMBT) and four other companies are on the verge of being delisted from the Stock Exchange of Thailand (SET) due to their failure to maintain free float qualifications, with the securities already suspended for a year, says the bourse.
The free float qualifications of CIMBT, Grand Canal Land (GLAND), Laguna Resorts & Hotels (LRH), NFC and Royal Orchid Hotel (Thailand) (ROH) do not meet the SET's requirements.
The SET maintained the SP (suspension) signs yesterday and warned of possible delisting of the securities.
According to the bourse, CIMBT has a free float of 5.17%, while GLAND is at 5.09%, LRH 12.2%, NFC 9.42% and ROH 3%.
"These listed companies received SP signs for one year continuously and were unable to rectify their free float qualifications to meet the requirements, meaning they are subject to possible delisting according to the SET's regulations," the bourse said in a statement.
The SET posted NC (non-compliance) signs and maintained the SP signs to continue the trading suspension of these securities until the companies are able to eliminate the grounds for delisting.
"If the five listed companies are still unable to address the grounds for delisting, the SET may proceed with delisting the securities," the bourse noted.
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