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June 25, 2008

Asean Board may begin trading in mid-2009
The unified Southeast Asian stock market known as the Asean Board is expected to begin the dual-listing trading of stocks in the middle of next year, according to the Stock Exchange of Thailand (SET).

Speaking of progress in the planned trading of stocks of six member countries of the Association of Southeast Asian Nations (Asean), SET senior executive vice president  Nongram Wongwanich said officials concerned were selecting suitable persons to supervise the trading board of NYX and OMX.

The process is expected to conclude in August and the trading of the first dual-listing stock is likely to kick off in the middle of next year.

She believed Thailand would be the first country where dual-listed stocks begin trading.

Under the plan, six Asean participating countries will bring 30 stocks to list on the market. So, there will be 180 stocks trading on the board. The four remaining Asean countries will not participate.

Regarding progress in the privatisation of SET, she said the Boston Consulting Group had already proposed details for a suitable privatisation structure.

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