KPL
(KPL) A leading construction company Phousy Construction and Development (PCD) was announced Tuesday as the latest and sixth public company to be registered with the Lao Securities Exchange (LSX).
President of PCD Board of Directors Sithong Phommachith, 5th from left,
LSX CEO Vankham Voravong and invited guests at PCD IPO launching ceremony
at Lao Securities Exchange, Vientiane, Oct 10, 2010
(KPL) A leading construction company Phousy Construction and Development (PCD) was announced Tuesday as the latest and sixth public company to be registered with the Lao Securities Exchange (LSX).
PCD is also the first company to have registered with LSX this year. Yet UDI Farm, a local agriculture company, is expected to be listed on LSX by this year end.
PCD closed its first trading day at 1,350 kip up by 150 kip or 12.5 % from the initial offering price (par value) of 1,200 kip.
President of PCD Board of Directors Sithong Phommachith signed an agreement with Chief Executive Officer of the Lao Securities Exchange Vankham Voravong to officialise the registration of PCD with the Lao Securities Exchange in the presence of senior officials of both sides, representatives of consulting firms and media.
Meanwhile, the Lao Securities Exchange closed its yesterday’s trading with a slight decrease of 1,014 points or 1.54% with the highest trading index standing at 1,037.73 points after the trading began at 1,029.82 points.
Since its establishment in October 2010, the Lao Securities Exchange has listed six companies including Banque Pour Le Commerce Exterieur Lao, EDL Gen, Lao World, Souvanny Home Center Public, Petroleum Trading Lao and Phousy Construction and Development.
The Lao government has an ambitious plan to have at least 25 public companies listed on the Lao Securities Exchange by 2020.
Meanwhile, Somphop Sakphanthopnom, Chief Executive Officer, APM (LAO) Securities, a financial consultant for three out of six companies listed on the Lao Securities Exchange said that having 25 companies listed at LSX would be a significant challenge unless relevant sectors especially the government actively participate in encouraging local companies, entrepreuneurs to realize the importance of the Lao capital market and business opportunities they could exploit once they are registered with LSX.
KPL
