What we have learned structuring against SET shares.
These notes are written for shareholders, founders, and advisers thinking carefully about liquidity. Each one stays close to the mechanics of the Stock Exchange of Thailand — the rules, the boards, and the structures that decide what a Thai share can actually do as collateral.
Proposed 2026 Securities Act Amendment: Will Share Pledges Be Reportable?
As at 22 September 2026 Thai law has no general duty to report a share pledge. What SEC Thailand's hearing draft would add, and what is not yet known.
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The Legal Anatomy of a Thai Share Pledge
Two statutory routes to security over Thai shares — the possessory pledge under Civil and Commercial Code sections 747 to 769, and the Business Security Act B.E. 2558 — and which one a lender actually uses.
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Share Pledge vs Pawnshop: What a Thai Stock Loan Is Not
Why the Thai word จำนำ causes confusion — and how a SET-listed share pledge differs from a โรงรับจำนำ in collateral, ownership, and scale.
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Share Pledge vs Corporate Bond (จำนำหุ้น vs หุ้นกู้)
Both contain หุ้น and are constantly confused — but they are opposite positions: borrowing against your shares versus a company issuing debt.
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Is a Thai Stock Loan Safe? Risks & Precautions
An honest look at the real risks — margin and forced sale, recourse, counterparty and disclosure — and how a conservative structure manages them.
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SEC Thailand Form 246-2: Disclosing a Share Pledge
How the 5% reporting regime works — and why a properly structured pledge is generally distinct from an acquisition or disposal.
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Baht, FX & Cross-Border Stock Loans for Foreign Borrowers
Currency of the facility, Bank of Thailand foreign-exchange rules, and repatriation — THB versus USD, and where FX risk sits.
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What Happens on Default: Enforcing a Thai Share Pledge
Margin calls, enforcement, and orderly liquidation — and how a conservative LTV and recourse profile keep forced sale remote.
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The NVDR Handbook: How Foreigners Borrow Against Thai-Listed Shares
How NVDRs route foreign capital around foreign-limit boards, and how to finance a Thai position held as receipts.
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TSD Custody & Perfecting a Share Pledge in Thailand
How the Thailand Securities Depository holds and controls pledged shares, and how a lender's security is perfected.
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SET Sector LTV: Indicative Loan-to-Value for Banking, Energy & Property
How sector liquidity and volatility drive indicative LTV bands across SET50 names.
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Stock Loan vs. Selling Shares: Raise Cash and Keep Your Thai Stock
Why a stock loan can beat selling when you need cash but want to keep ownership, dividends, and upside.
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How Much Can You Borrow Against Thai Shares? SET Stock Loan LTV Explained
What sets your loan-to-value and how much a SET or mai position can raise.
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Can Foreigners Borrow Against Thai Shares? NVDRs and Foreign Limits Explained
How local-board, foreign-board, and NVDR holdings behave as loan collateral.
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Recourse vs. Non-Recourse Stock Loans in Thailand: Which Is Safer?
The three recourse profiles and how the choice protects or exposes your other assets.
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Funding Succession Without Selling: Stock Loans for Thai Family Businesses
Raising liquidity for a generational transition while keeping the controlling block intact.
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How to Get a Stock Loan in Thailand: A Step-by-Step Guide
From confidential enquiry to funding in five steps — what to expect and prepare.
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Thai Stock Loan Rates, Fees and Tenor: What a Share-Backed Loan Costs
How stock-loan pricing works and what drives the rate you are offered.
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Which Thai Stocks Qualify for a Stock Loan? SET and mai Eligibility
The factors that decide whether your shares can be financed, and at what LTV.
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Stock Loan vs. Margin Loan in Thailand: Key Differences for Shareholders
How a share-backed stock loan differs from brokerage margin, and when each fits.
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A position is easier discussed than described.
If a note here speaks to your situation, the next step is a confidential conversation. A senior principal will reply — usually within one business day.
