"Pride of the Provinces III" aims to promote knowledge on capital markets and fund-raising to businesses nationwide. The project also supports intermediaries and professionals in capital markets such as financial advisers, auditors and securities companies in terms of expansion of their businesses throughout the country.

          "Since the introduction of the first 'Pride of the Provinces' two years ago, 219 companies from 39 provinces nationwide have participated in the project," Vorapol said.

          "The SEC realises that wider participation will bring about more awareness, knowledge and understanding on capital markets as well as corporate governance, all of which will certainly be beneficial for improvement of provincial and family business management. As such, the SEC and our alliances continue the projects to help strengthen Thai businesses nationwide, which will eventually contribute to sound economic fundamentals and sustainable growth."

          Those interested in joining "Pride of the Provinces III" are required to have paid-up registered capital and shareholders' equities of not less than Bt20 million, or be able to show either profit or retained earnings in their latest financial statements. In addition, they must provide advantages to their own provinces and be interested in raising funds through the stock exchange.

          All the criteria are similar to those of the first two editions of the project.

          Qualified businesses will be able to attend training courses on capital market, fund-raising and preparations for becoming a publicly traded company. Moreover, they can seek advice on IPOs and listing requirements from financial advisers, auditors, the SET and the SEC.

          Participants obtaining the SEC's approval for going public this year will be awarded a plaque honouring their achievement.