Pathways to the APAC Capital Markets 2026

Baker Tilly has released the 2026 edition of Pathways to the APAC Capital Markets, a practical reference for companies considering a public listing, a dual or cross-border listing, or future strategic fundraising across the Asia Pacific region. The publication offers an updated comparative overview of IPO and listing requirements across key APAC markets, with information current as of 31 May 2026.

First published in 2022 and developed collaboratively by Baker Tilly professionals from across the region, the booklet brings together local regulatory and commercial insight into a single, accessible guide. The Asia Pacific region remains one of the most dynamic and diverse capital market landscapes in the world, with each market offering distinct advantages for businesses at different stages of growth.

What the guide covers

The 2026 edition compares listing pathways, quantitative entry criteria, corporate governance expectations, and ongoing disclosure obligations across the region's major and emerging exchanges. It is designed to help market participants understand the regulatory and commercial dynamics of each jurisdiction as a first step in planning a capital markets transaction.

Spotlight on Thailand

For companies looking at a listing on the Stock Exchange of Thailand (SET) Main Board, the guide sets out the core quantitative criteria, including:

• Paid-up capital of at least THB 100 million and equity of at least THB 800 million.
• Combined net profit from operations over the latest two to three years of at least THB 125 million, with net profit in the latest financial year of at least THB 75 million.
• At least 1,000 minor shareholders, holding between 20% and 30% of paid-up capital depending on company size.

The guide also summarises Thailand's ongoing corporate disclosure obligations, including quarterly and audited financial statements, the annual report, and the Form 56-1 One Report.

For tailored advice on listing or fundraising in Thailand or elsewhere in the region, please contact our team.

This update is for general guidance only and should not be relied upon for specific matters. Professional advice should be obtained for application to your particular circumstances.