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SET: AMLO's 6 Billion Baht BCP Seizure Won't Hit Free Float

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The Stock Exchange of Thailand (SET) has clarified that the Anti-Money Laundering Office's (AMLO) seizure of shares from Bangchak Corporation (BCP), valued at over 6 billion Baht, will not affect the company's free float. SET is working to ensure transparency in its ongoing investigation to maintain investor confidence, while overseeing more than 600,000 daily trades. Despite the asset seizure, SET is taking steps to safeguard the integrity of Thailand’s financial market.

 

This clarification follows AMLO's announcement about operations involving the confiscation of assets tied to international criminal organizations, notably targeting scammers. The BCP shares represent a significant portion of the assets seized, totaling approximately 6 billion Baht.

 

SET President Asadej Kongsiri noted that the government's measures are aimed at safeguarding both the public and investors. The SET supports these efforts, although the move might temporarily dent market perceptions. Asadej emphasized the SET's readiness to assist in the investigation and further stressed the organization's commitment to scrutinizing trading activities to prevent unlawful practices.

 

The SET, alongside the Securities and Exchange Commission (SEC) and the Bank of Thailand, maintains stringent regulations for securities trading. With more than 800 companies listed, even a few incidents could jeopardize overall market trust. To address this, the government is urged to provide swift clarification on seized assets, including the status of six additional securities under AMLO’s investigation.

 

Regarding BCP shares, Asadej assured that their free float is unlikely to be significantly affected as those shares have not been actively traded. The stocks are largely held, thereby lessening the chances of market disruption. Existing measures aim to prevent unauthorized stock accumulation, and BCP has established committees to shield investor interests.

 

The SET remains vigilant against potential forbidden transactions and will promptly investigate any irregular activities. So far, no such issues have surfaced concerning BCP shares.

 

In a related effort, the SEC and AMLO convened to strategize on seizing assets from digital crime networks. Discussions focused on enhancing regulations to better track financial transactions and identify true financial beneficiaries. Improving Know Your Customer (KYC) and Customer Due Diligence (CDD) standards were also prioritized to ensure effective data sharing between the agencies, reported The Nation.

 

Key Takeaways

  • SET confirms AMLO’s seizure of BCP shares won't impact free float.
  • Government urged to clarify seized assets to restore market confidence.
  • SEC and AMLO unite to target assets linked to technology crime networks.

 

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image.png  Adapted by ASEAN Now from The Nation 2025-12-04

 

 

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I don't understand the stock market. How could the seizure of 220,000,000 shares NOT affect the free float? That's like 15% of total shares.

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