LSX seeks to promote share trading in Laos
LSX seeks to promote share trading in Laos
The Lao Securities Exchange (LSX) is seeking to pay more attention to developing the capital markets of Laos to move towards international standards and become a fund mobilisation source for Lao society.
The LSX expects that at least two more companies will list on the LSX next year and some 25-30 companies by 2020, LSX CEO, Mr Vanhkham Voravong said at a press conference in Vientiane yesterday.
At present, only four companies are listed on the Lao stock market: Banque Pour Le Commerce, Exterieur Lao, Electricite du Laos Generation Public Company (EDL-Gen), Lao World Public Company and Petroleum Trading Lao Public Company (PTL).
Last yea r, the LSX continued to be active in developing and improving the share trading mechanisms on the LSX to provide better facilities for domestic and foreign investors, he said.
The LSX also continued to develop the custodian service systems and bond exchange trading systems, which are expected to be finished and ready to use at the beginnin g of next year, Mr Vanhkham said.
To promote and encourage more investors to list on the LSX, the LSX worked in cooperation with the Lao Securities Commission Office and securities companies, lowering to 0.2 percent the rate of share trading service fees from the current 0.7 percent and 1.0 percent charges.
The LSX has helped the companies listed on the LSX to create websites to publish information with the aim to supply it to investors, thereby easing their access to timely information, he explained.
The LSX also enhanced its efforts to promote education on capital markets for members of society, especially completing the training on the 3rd Programme-Lao Professional Investment Banking I (program-La.PIB 1) and honourary Lao.PIB as well as LSX cooperation with securities companies and companies listed on the LSX for education promotion on capital markets for Lao society.
Next year, the LSX plans to adjust the unit of share trad ing from the minimum of one share to 100 shares, with the adjustment to be implemented on January 11, Mr Vanhkham said.
The LSX will also create conditions for promoting the development of custodian service systems to international standards, as well as continue to develop debentures, bonds and websites, he said.
Over the next few year s, there will be different challenges that the LSX must continue to implement to be of use to investors and business units in terms of their contribution to socio-economic development.
