Laos’ stock exchange conducted the first transaction on Jan. 11, marking the official operation of the country’s stock market.
Lao Standing Deputy Prime Minister and Chairman of the Lao Securities Exchange Commission Somsavad Lengsavath, Permanent Minister of Prime Minister’s Office Sayseng Lytenhbia and investors from Vietnam , China , the Republic of Korea and Thailand attended the event.
Two state companies, including the Bank for Foreign Trade of Laos (BCEL) and EDL Generation, a unit of energy supplier Electricity of Laos, have listed on the exchange.
BCEL issued 20 percent of its value in shares to domestic investors, while EDL Generation offered about 25 percent to both local and foreign investors. A total of 200,000 BCEL shares and 114,505 EDL Generation shares changed hands during the bourse’s first session. This shows a strong demand from local and foreign investors for Lao stocks, as well as investor confidence in the Lao economy.
Established on October, 2010, the Lao stock exchange is forecasted to soon become a stock market of international standards with shares from about 100-200 businesses expected to be listed during the next two years./.