The Lao government has opened up opportunities for foreigners to buy shares in a bid to boost investment in the Lao stock market.
Lao Securities Exchange Chairman and CEO Dethphouvang Moularat said yesterday the government had given the green light for foreigners to own 20 per cent of the total shares listed in the stock market.
The government has decided to lower the profit tax rate for companies listed on the Lao Securities Exchange (LSX) in a move aimed to encourage more corporations to become publicly listed, according to a policy maker. LSX Commission Office Head Ms Vatthana Dalaloy spoke about the benefits of companies listing on the market at the opening of the Listing Promotion Seminar held last week in Vientiane. The seminar was made possible through cooperation between the LSX and the Korean Exchange and aimed to inform major state and private enterprises about the stock market and stir interest in listing on the exchange. According to Ms Vatthana, any company listed on the stock market will receive a 5 percent reduction in corporate profit tax for a period of four years as an incentive to listing on the exchange, which opened for trading earlier this year.
Lao Securities Exchange Commission and Lao stock exchange officials last week joined DFDL Mekong Legal and Tax Advisers (DFDL Mekong) at a foreign investors’ conference in Singapore.
DFDL Mekong hosted the first ever conference on the Lao Stock Exchange with the title of “The New Stock Exchanges in Laos and Cambodia: Foreign Investors Conference” on May 20.
Laos, Southeast Asia’s smallest economy, expects private companies and state-run enterprises to raise at least $8 billion in equity and bond sales in the next five years to fund investments, the market regulator said.
The communist country opened a stock exchange, aiming to integrate with the global economy and join the World Trade Organization. The bourse started trading two stocks, one off limits to foreigners, and may add three others this year, said Vathana Dalaloy, the acting secretary general of Laos’s Securities and Exchange Commission.
VIENTIANE (AFP) – The world’s newest stock exchange is set to open for trade this week in communist Laos, which hopes its cautious embrace of global capitalism will spur development of Southeast Asia’s smallest economy.
It is the latest experiment in freewheeling finance for a country that is officially socialist but in reality began tiptoeing away from a Soviet-style command economic system in the 1980s with free-market reforms.
Vientiane, Laos – The Lao Securities Exchange is scheduled to start trading the shares of two state enterprises on January 11, state media reports said Wednesday.
Communist Laos, one of the world’s poorest countries, in October announced plans to open a stock exchange with two prominent state enterprises – EDL Electricity Generation Company and the Bank pour le Commerce Exterieur Lao (BCEL) – as its first listed stocks.
Dec. 16 (Bloomberg) – EDL – Generation Pcl plans to raise as much as 930.5 billion kip ($115.4 million) in the first public offering in Laos as the smallest economy in Southeast Asia prepares to permit trading on its new stock exchange.
The unit of state-owned Electricite du Laos is offering about 86.9 million shares to foreign investors and 119.4 million shares to local investors at 4,300 kip apiece, according to the prospectus filed to the Office of the Securities and Exchange Commission. The company will offer about 10.9 million shares to employees at 4,000 kip per share, the terms show.
Lao people now have access to a new investment opportunity as BCEL this week became the first ever Lao enterprise to open up to public ownership.
Banque pour le Commerce Exterieur Lao (BCEL), one of the largest commercial banks in Laos, has become become the first Lao enterprise to allow investors to subscribe for shares after obtaining permission to do so from the Lao Securities Exchange Commission.
By Anuchit Nguyen
Oct. 7 (Bloomberg) – Laos, the smallest economy in Southeast Asia, is starting its first stock exchange to provide local companies with an avenue to raise funds for expansion and investment, the bourse’s chief said.
The stock exchange will start trading shares “some time” in early 2011, Dethphouvang Moularat, Chairman and Chief Executive Officer of the Lao Securities Exchange, said in a telephone interview from Vientiane yesterday. The bourse will be officially established this week, he said, declining to give the specific date.
(KPL) The Lao Development Bank and the Sacombank Securities of Vietnam inked here last Friday an agreement on establishing the Lane Xang Securities Public Company.
The move is said to prepare for the competition of stock market in Laos in the near future.