Firms get set for stock market listing
Firms get set for stock market listing
Banks, state enterprises and businesses sent staff for training in Vientiane last week on how to improve their operations in preparation for listing on the Lao Securities Exchange (LSX).
A two day seminar on strategies for listing on the exchange was held at the OCG learning centre in Vieng Chaleun village, Xaysettha district, Vientiane.
The seminar was presented by trainers from Asset Pro Management of Thailand, who are experienced in the financial sector and have been successful in bringing more companies into the securities market in Thailand.
OCG Learning Centre Director Oot Nontasin said “We have good partners with experience in helping companies into the securities market, and we are sure the course will help businesses improve themselves to list on the LSX.”
The participants learned regulations and technical know-how to reshape the way they do business, including standardised accounting, seeking a financial consultant and auditor, legal consultation, share management and the procedure of issuing an Initial Public Offering (IPO).
The OCG learning centre was established in 2008 and provides training on human resource management, marketing, sales and services, administration, creating business plans, financial administration and how to achieve business success.
Participating in the opening ceremony were LSX Chairman and Chief Executive Officer Mr Dethphouvang Moulara and Banque pour le Commerce Exterieur Lao (BCEL) General Managing Director Mr Sonexay Sitphaxay, who also commented on the current BCEL share price.
Mr Sonexay said the recent drop in the BCEL share price was a normal part of market mechanisms.
“The current fall of the share price is just breathing space as the shares continually rose since opening. When they rise, they should fall sometime, and when they are down they will rise again,” he said.
“It is the market mechanism, based on supply and demand.”
Mr Dethphouvang Moulara added “Ups and downs are normal in any market, also it was Vietnamese and Chinese new year, so some shareholders were away.”
Mr Dethphouvang said the LSX is running well and he anticipates more companies will list in the near future.
“This seminar is one strategy to encourage and boost listings on the market,” he said.
vientiane times