Borrow against your SET-listed shares.

Q: Who is a stock loan for?

Typical borrowers include founders and controlling shareholders of SET-listed companies, major individual shareholders, family holding companies, listed corporates holding treasury or strategic equity, and pre-IPO or lock-up holders who need interim liquidity before they are free to sell.

Q: What LTV, tenor, and interest apply?

There is no single headline LTV. The ratio is driven by the liquidity, volatility, free float, and shareholder concentration of the specific SET- or mai-listed counter, together with position size and the chosen structure. An indicative LTV is issued only after review of the actual ticker and holding.

Q: Does pledging my shares trigger disclosure to the SEC?

It depends on the holder's status and the size of the position. Any disclosure or regulatory obligations are a matter for your own Thai legal counsel, engaged in parallel; we act as arranger and introducer and do not provide legal or regulatory advice.

A Thailand stock loan turns a concentrated holding into liquidity — without selling, without surrendering ownership, and without leaving the register.

01 · The instrument

Pledge, not sale

What a Thailand stock loan actually is.

A stock loan is a financing secured by a pledge of your SET- or mai-listed shares. You draw cash against the value of the holding while the shares remain yours — and you recover them in full when the loan is repaid.

A Thailand stock loan at a glance · illustrative market ranges, not an offer, quote, or rate card
Feature	In a Thailand stock loan
What it is	Financing secured by a pledge of your SET- or mai-listed shares — you draw cash against the holding while the shares stay yours.
Eligible collateral	Shares on the SET or mai, held on the local or foreign board, and holdings held as NVDR where foreign limits apply.
Indicative loan-to-value	Illustrative bands only — large-cap SET50 names ~50–65%, mid-cap SET100 ~40–55%, smaller-cap or mai ~20–40%. The figure for your position is set only after a review of the specific share.
Tenor	Typically 12–36 months, with renewal and early-repayment terms agreed in the documentation.
Interest	Fixed or floating, serviced periodically or rolled into the structure for the life of the loan.
Recourse	Non-recourse, limited-recourse, or full-recourse, depending on the structure and the collateral.
Custody	Pledged shares are held under documented custody, and the pledge is perfected through the TSD (Thailand Securities Depository).
What you keep	Beneficial ownership, the economic upside of the position, and — depending on how the structure is built — your dividends and your vote.
Minimum size	Typically from THB 30 million upward, with no defined upper bound.

The ranges above are illustrative market ranges only — not an offer, a quote, or a rate card, and there is no fixed LTV grid. Terms are set only after a review of your specific position. Our illustrative LTV calculator shows how liquidity, volatility, free float, and concentration move the range.

The mechanics are simple to state. You pledge listed shares as collateral, capital is advanced against an agreed loan-to-value, and the position is held under documented custody for the term. Throughout, you keep beneficial ownership of the shares, the full economic upside of the position, and — depending on how the structure is built — your dividend entitlement and your vote.

When the loan matures and is repaid, the pledge is released and the shares return to you, unchanged. The transaction leaves no permanent mark on your holding.

A sale ends your relationship with the company. A stock loan simply borrows against it for a while.

Sale vs. pledge

The contrast with an outright disposal is the whole point. Selling realises cash but permanently removes you from the position — forfeiting the upside, potentially triggering tax, disclosure, and control consequences, and signalling to the market. A stock loan extracts only the capital you need and preserves everything else. To weigh it against a sale, broker margin, and an unsecured bank loan, see the ways to raise liquidity from Thai shares, compared.

02 · Who it serves

Concentrated Thai holdings

Built for shareholders with a meaningful stake to protect.

If your wealth is concentrated in a single Thai-listed counter — and you would rather not unwind it — a stock loan is designed for you.

01
Founders & controlling shareholders of SET-listed companies who need liquidity without diluting control or signalling a sale.
02
Major individual shareholders holding a large, long-term position they intend to keep.
03
Family holding companies consolidating listed equity across generations and entities.

04
Listed corporates with treasury or strategic cross-holdings to mobilise without divestment.
05
Pre-IPO & lock-up holders seeking interim liquidity before they are contractually free to sell.
06
Long-term shareholders who want capital today but the position tomorrow.

03 · Key terms

Structured per transaction

The terms that shape a Thai stock loan.

No two listed positions are alike, so terms are structured around the specific ticker rather than quoted from a rate card. The framework below is indicative.

ALoan-to-value

Indicative LTV

Varies with the liquidity, volatility, free float, and concentration of the underlying share. A figure is issued only after review of the specific holding. Our illustrative LTV calculator shows how these factors move the range.

BTenor

12–36 months

Typical terms run from one to three years, with renewal and early-repayment mechanics agreed in the documentation.

CInterest

Fixed or floating

Interest may be fixed or floating, and either serviced periodically or rolled into the structure for the life of the loan.

DRecourse

Recourse profile

Non-recourse, limited-recourse, or full-recourse, depending on the structure and the collateral. See recourse profiles in Thailand.

EEligible collateral

SET · mai · NVDR

Shares held on the local board or the foreign board, and holdings held as Non-Voting Depositary Receipts where foreign limits apply.

FMinimum size

From THB 30M

Transactions are typically structured for positions valued from THB 30 million upward, with no defined upper bound.

04 · Mechanics

TSD · custody · corporate actions

How the pledge works in Thailand.

A SET position is not generic collateral. Thai depository mechanics, custody, and corporate-action handling all sit at the centre of how a stock loan is built.

01
Held at the depository. Your shares stay in your own account at a designated custodian and are held in book-entry form at the Thailand Securities Depository (TSD), the central depository for SET- and mai-listed securities; the lender's security comes from its rights over that account.
02
Custody fits the structure. Custody arrangements are matched to the agreed structure and recourse profile, with the collateral held in a manner appropriate to both.

03
Margin & top-up, documented up front. Any margin maintenance and top-up mechanics are defined at the outset, so the rules of the term are clear before funding.
04
Corporate actions & dividends. Treatment of dividends, rights, and other corporate actions is set out in the documentation and aligned to how the position is structured.

05 · Disclosure

SEA B.E. 2535 · Form 246-2

Disclosure is a matter for your Thai counsel.

Disclosure questions belong with your own Thai counsel — engaged in parallel from the outset.

Disclosure obligations turn on the shareholder's status and the size of the position, and Thai securities law sets out reporting requirements that can apply when holdings change. Whether any of these are engaged by a particular pledge structure is a question of law in each case.

Any disclosure or regulatory obligations are a matter for your own Thai legal counsel, engaged in parallel; we act as arranger and introducer and do not provide legal or regulatory advice.

This is a general description, not legal advice. Specific obligations are confirmed by your own Thai counsel as part of each transaction.

06 · Process

From enquiry to funding

How a stock loan comes together.

Five stages, a principal at every one — a clear path from a confidential conversation to capital secured against your SET- or mai-listed shares, with the full position recovered on repayment.

๑Stage one

Confidential enquiry

The high-level details of your position, shared through a secure channel. NDA available, no obligation.

๒Stage two

Indicative terms

Indicative LTV, tenor, pricing, and recourse within 2–3 business days.

๓Stage three

Documentation

Loan, pledge, and custody agreements, with Thai counsel of your choosing in parallel.

๔Stage four

Pledge & custody

Held in your own custodian account (book-entry at the TSD); the lender's security comes from its rights over the account. Beneficial ownership preserved.

๕Stage five

Funding & stewardship

Capital released on agreed timelines, with a single point of contact throughout.

A note on timing. Indicative terms typically arrive within 2–3 business days. Full execution — documentation, KYC, and holding the collateral in your account at a designated custodian and in book-entry form at the TSD, with the lender's security arising from its rights over that account — commonly completes within two to four weeks thereafter, depending on the complexity of the position and any disclosure considerations under SEC Thailand rules.

07 · FAQ

Common questions

Stock loans in Thailand, answered.

01What is a Thailand stock loan?

A Thailand stock loan is financing secured by a pledge of shares listed on the Stock Exchange of Thailand (SET) or the Market for Alternative Investment (mai). You pledge listed shares as collateral to draw cash, while keeping beneficial ownership, the full economic upside, and — subject to structuring — your dividends and your vote. On repayment, the pledge is released and the shares return to you in full. Unlike an outright sale, the position is never given up.

02Who is a stock loan for?

Typical borrowers are founders and controlling shareholders of SET-listed companies, major individual shareholders, family holding companies, listed corporates with treasury or strategic equity, and pre-IPO or lock-up holders who need interim liquidity before they are free to sell. The common thread is a meaningful, long-term Thai-listed position the holder would rather keep than unwind.

03What LTV, tenor, and interest apply?

Indicative LTV varies with the liquidity, volatility, free float, and concentration of the specific share, and is issued only after review of the actual holding. Tenors are typically 12 to 36 months. Interest may be fixed or floating, and either serviced periodically or rolled into the structure. Recourse can be non-recourse, limited, or full, depending on the structure and collateral.

04Which Thai shares are eligible as collateral?

Eligibility is assessed case by case across SET Main Board and selected mai-listed equities. Relevant factors include free float, average daily trading value, market capitalisation, sector, and shareholder concentration, as well as whether the holding is on the local board, the foreign board, or held as NVDRs. Transactions are typically structured from THB 30 million upward.

05How is the pledge held and what about dividends?

Your shares are deposited into your own account at a designated custodian and held in book-entry form at the TSD. The lender's security comes from its rights and control over that account — not from transferring the shares — so you remain the account holder and beneficial owner throughout the term. Margin and top-up mechanics, the treatment of corporate actions, and dividend handling are all documented before funding, so the terms of the position are clear for the life of the loan.

06Does pledging my shares trigger disclosure to the SEC?

It depends on your status and the size of the position. Any disclosure or regulatory obligations are a matter for your own Thai legal counsel, engaged in parallel; we act as arranger and introducer and do not provide legal or regulatory advice.

07How long does the whole process take?

Indicative terms are typically delivered within 2 to 3 business days of an initial submission. Full execution — documentation, KYC, and holding the collateral in the borrower's account at a designated custodian and in book-entry form at the TSD, with the lender's security arising from its rights and control over that account — commonly completes within two to four weeks thereafter, depending on the complexity of the position and any disclosure considerations.

08Do I have to commit anything at the enquiry stage?

No. The initial enquiry is exploratory and carries no obligation. Indicative terms are issued so that you can assess the structure before any documentation is signed or any cost is incurred. A non-disclosure agreement is available on request before you share details.

09Is my enquiry kept confidential?

Yes. Enquiries are received through a secure channel and handled directly by a principal. We do not run a sales floor or a call centre, and your identity, ticker, and position are not disclosed to third parties beyond the licensed counterparties and counsel required to execute the transaction.

10Can I use my own Thai lawyer?

Yes, and we encourage it. Thai counsel of your choosing is engaged in parallel during documentation to review the loan agreement, share pledge agreement, and custody arrangement. Where helpful, we can suggest experienced Bangkok firms, but the choice is yours.

11Is a Thai stock loan non-recourse?

It can be. A Thai stock loan is offered as non-recourse, limited-recourse, or full-recourse, and the recourse profile is chosen deliberately for each position. In a non-recourse structure the lender's only remedy is the pledged shares — if they fall short, the lender absorbs the difference and cannot pursue your other assets. That protection is priced for, so non-recourse typically carries a lower LTV and wider pricing than a full-recourse loan, where you stay liable for any shortfall. Which is right depends on whether you are protecting your wider wealth or optimising cost on a position you hold with high conviction.

Find out what your SET position can raise.

Share the high-level details and a senior principal will return indicative terms — confidentially, usually within 2–3 business days.

Request a Confidential Quote