sec’s ipo approval process takes only 2-3 week

http://www.sec.or.th/en/Pages/News/Detail_News.aspx?tg=NEWS&lg=en&news_no=47&news_yy=2004

I wonder how long does it take to review KCN's IPO's application?


No. 47 / 2004
Monday 12 July 2004
SEC’s IPO Approval Process Takes Only 2-3 Weeks
In response to the news stated a concern that SEC’s IPO approval process may take time, Mr. Chalee Chantanayingyong, SEC Senior Assistant Secretary-General, said that “We work as a team and closely coordinate with financial advisors and IPO applicants. Moreover, the SEC must finish reviewing IPO cases within 45 days after having obtained complete information from applicants. Normally, if applicants file complete information, the SEC will grant the IPO approval within 2-3 weeks.” “Some cases consumed time in revising information in the registration statements because of incomplete information, financial statements not complied with the accounting standards, significant changes of material information which is different from the registration statements, or complaints that need companies’ further clarifications. Such problems partly arose from poor advice of some financial advisors. From now on, the SEC will be tougher in monitoring financial advisors’ works.” “For companies interested in IPO, the SEC has made publicly available IPO procedures and disclosure requirements on its website - www.sec.or.th which will be useful for both the interested companies and financial advisors. The SEC’s key concepts for IPO approval are based on accurate and complete information disclosure as well as having financial statements prepared in accordance with the accounting standards, so as to provide sufficient information for investors’ decision,” Mr. Chantanayingyong concluded. Presently, there are 35 IPO applications under the SEC’s consideration process.