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SET Urges 7 Stocks to Resolve Free Float Issues, Faces Prolonged SP and Possible Delisting if Neglected

Capital market05 May 2026 10:49 GMT+7

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SET Urges 7 Stocks to Resolve Free Float Issues, Faces Prolonged SP and Possible Delisting if Neglected

The Stock Exchange of Thailand (SET) The SET has issued a warning to seven listed companies that have not yet resolved their Free Float issues according to criteria, with the one-year deadline approaching in early June.

This action is not merely regulatory enforcement but also a key signal regarding stock quality on the exchange, particularly concerning "liquidity" and "price fairness."

If a company fails to sufficiently distribute shares to retail investors, it will not only face trading restrictions marked by an SP symbol but also risk being classified as non-compliant (NC) and potentially delisted from the market.


SET urges 7 companies to urgently resolve Free Float issues before the one-year deadline.

According to the SET announcement, currently seven listed companies bear the CF (Caution Free Float) or SP (Suspension) marks due to insufficient retail shareholder proportions. The criteria require retail shareholders to collectively hold at least 15% of paid-up capital and number at least 150 individuals. These companies are:

  • Amarin Corporations Public Company Limited (AMARIN)
    • Retail shareholders hold 9.41% of shares, numbering 1,542 individuals.
  • CIMB Thai Bank Public Company Limited (CIMBT)
    • Retail shareholders hold 5.17% of shares, numbering 9,433 individuals.
  • Grand Canal Land Public Company Limited (GLAND)
    • Retail shareholders hold 5.09% of shares, numbering 1,435 individuals.
  • Laguna Resort and Hotel Public Company Limited (LRH)
    • Retail shareholders hold 12.16% of shares, numbering 1,133 individuals.
  • NFC Public Company Limited (NFC)
    • Retail shareholders hold 9.42% of shares, numbering 2,293 individuals.
  • Royal Orchid Hotel (Thailand) Public Company Limited (ROH)
    • Retail shareholders hold 3.00% of shares, numbering 1,188 individuals.
  • Unique Mining Services Public Company Limited (UMS)
    • Retail shareholders hold 3.36% of shares, numbering 1,349 individuals.

    • These companies have carried these marks since 5 June 2025, with the one-year deadline to resolve Free Float issues set for 4 June 2026—a critical cutoff date.

    The SET further noted that none of these companies have fully resolved the issues yet, prompting this urgent reminder to complete corrective actions by the deadline. Failure to comply will lead to progressively stricter measures.


    Failure to resolve issues risks prolonged suspension and eventual delisting.

    Free Float refers to the proportion of shares held by general retail shareholders, excluding major shareholders or controlling parties. The SET requires a minimum threshold to ensure sufficient share distribution and effective trading.

    The key rationale behind this criterion is to enhance liquidity, reduce price manipulation, and ensure fairness so retail investors can access and trade shares at prices reflecting true market value.

    The SET has clearly outlined the course of action if companies fail to meet the Free Float criteria within the timeframe.

    • In AMARIN's case (currently marked CF), the stock will be suspended (SP) from trading until it resolves the Free Float issue.
    • For the other six companies (currently under SP)—CIMBT, GLAND, LRH, NFC, ROH, and UMS—they will be additionally designated as NC (Non-Compliance) while remaining suspended.

    Importantly, the SET may consider delisting these companies from the stock exchange altogether if they continue to fail to meet the criteria.


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