Lao World Public lists on the LSX
Lao World Public lists on the LSX
The Lao Securities Exchange (LSX) has listed Lao World Public Company as a new member, hoping that the move will stimulate stock trading in one of the smallest markets in the Southeast Asian region.
LSX Chairman and CEO Associate Professor Dethphouvang Moularat handed over the official certificate to list Lao World Public Company to its Chairman and CEO, Mr Sackchai Wongmalasith at the stock market in Vientiane.
“As the LSX chairman and CEO I am delighted to welcome Lao World Public Company as a new member of the market after its period of preparation,” said Associate Professor Dethphouvang.
“Now the company is officially a publicly listed company and listed on the market,” he said at the ceremony.
Mr Sackchai said that the company, which currently runs goods exhibitions, convention halls and entertainment businesses, has raised US$5 million from selling 10 percent of its 39.6 million shares.
Lao World Public Company plans to use the money raised to expand its businesses especially the construction of a new shopping mall in Vientiane.
Mr Sackchai said that the company had made a strong commitment to run the businesses professionally and transparently so as all the shareholders of the company know that their operations are accountable.
Lao World Public Company is the first company to be listed on the Lao Securities Exchange after the market opened two years ago, with BCEL and EDL Gen listed as public companies at its opening.
Lao World Public is the third company to list on the market. The increase of listed companies on the market will boost stock trading as investors will have more choices as to where they invest their money.
Associate Professor Dethphouvang said that that the stock market expects to list two more public companies next year, which have currently hired securities firms as advisors to improve themselves so as they can meet the stock market requirements.
There are some 38 firms in Laos which have the potential to list on the stock market at some point in the future. So far, 21 of them have expressed interest to list on the market as they are looking for investment capital to expand their businesses in the country amidst growing investment opportunities.
The LSX has officially launched online trading services recently, creating opportunities for local and foreign investors to pose orders to buy and sell stock via the internet from their homes and offices. In the past, investors had to buy and sell stock via telephone or fax. Associate Professor Dethphouvang said that after launching the online trading service, the stock market saw about an 8 to 10 percent increase in stock trading, adding that the market also sees more investors from France.
However he said that one of the major challenges was that not all stock brokers are able to provide online trading services.
Associate Professor Dethphouvang also acknowledged that the stock market is still unable to provide real time trading services due to the fact there are few companies listed on the market.
vientiane times
