BANGKOK — The accounting scandal at wire maker Stark, formerly one of Thailand’s top 100 listed companies, did more than turn the company’s shares into a penny stock. It spurred regulators to come up with new listing and reporting rules aimed at curbing backdoor listings in Thailand, the path Stark took to become a listed company.
Stark’s trouble officially reached a critical point in March when the Stock Exchange of Thailand suspended the company’s shares for missing the deadline to report its 2022 financial results. After a three-month pause, trading resumed for one month to give investors an opportunity to liquidate their Stark holdings.
