Souvany takes next step towards stock market listing
Souvany takes next step towards stock market listing
The Souvanny Trading Import-Export Sole Company Ltd has appointed Thailand's APM (Lao) Securities (APMLAO) as their financial advisor in preparation for listing on the Lao Stock Exchange.
The agreement was signed in Vientiane last week between the Souvanny Trading Import-Export Co Ltd's Director, Mr Vatdana Soukhabandith, and CEO of APM LAO, Mr Somphob Sakpunpanom.
The ceremony was attended by officials from the Lao Securities Exchange and the Ministry of Industry and Commerce along with employees from both sides.
APM LAO's appointment as financial advisor of the company comes as it prepares for listing on the Lao Stock Exchange and is planning its future business ventures, Mr Vatdana said.
The company is currently undergoing structural adjustment in regards to its finances and is improving the standard of its accounting practices to guarantee its accountability for listing on the LSX, he said.
Mr Vatdana believed that after Souvanny Trading completes the improvements to its accounting and brings its financial records up to standard, the company will be more confident in trading competition.
It will also enjoy greater confidence among both its foreign and local customers and take a great step forward in terms of integrating with the Asean Economic Community.
The Souvanny Trading Import-Export Co., Ltd was established in 1988 with registered capital of 500 million kip.
Currently, the company is selling construction equipment, home ornaments and electrical materials.
Souvanny Trading has four branches in Vientiane, which import about 80 percent of its quality products from Thailand and the rest from China.
In the years ahead, Souvanny Trading plans to expand and open branches in other provinces but to do so it aims to raise capital by seeking registration on the Lao Stock Exchange.
Meanwhile, the management of APMLAO confirmed that the securities advisory company will try to encourage more business units in Lao to register on the LSX.
In November last year, Sitthi Logistics Lao Co., Ltd appointed APMLAO as their financial advisor in preparation for listing on the LSX this year.
Currently, there are four companies listed on the Lao stock market, those being Petroleum Trading Lao Public Company (PTL), Lao World Public Company, Banque Pour Le Commerce Exterieur Lao and Electricite du Laos Generation Public Company (EDL-Gen).
