Bangkok: The Stock Exchange of Thailand (SET) has announced the potential delisting of G Steel Public Company Limited (GSTEEL) shares after the company's 2025 financial statements revealed negative shareholder equity amounting to 1.45 billion baht.

According to Thai News Agency, GSTEEL's common shares are considered for delisting due to the failure to submit financial statements on time. Although GSTEEL has now submitted the delayed reports, it faces significant challenges as the audited financial statements for 2025 show a negative equity of 1,453 million baht. This situation places the company's shares at risk under SET's regulations concerning the delisting of registered securities.

SET will initiate further delisting considerations starting March 10, 2026. The NC (Non-compliance) mark will remain to caution investors of the stock's delisting risk, and the SP (Suspension) mark will continue to block trading of GSTEEL securities.

SET has mandated GSTEEL to disclose its corrective plan for the negative equity situation and announce a timeframe for resolution by April 10, 2026. Despite previous allowances for trading in July 2019, GSTEEL will not be permitted to resume trading until it provides a satisfactory plan.

If GSTEEL fails to remedy the negative equity issue within three years from March 10, 2026, SET may proceed with delisting the company from the exchange.