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Thai broker Seamico eyes Vietnam, Cambodia in Q3
Thailand’s Seamico Securities aims to finalize plans later this year to expand into Vietnam and Cambodia, two of Asia’s fastest-growing economies, the brokerage firm said Monday.
The company also plans to sell up to 1 billion baht (US$32 million) worth of debentures during June and July, Seamico Vice Chairman and Managing Director Pinit Puapan told reporters.
“We should have a clear picture of our overseas expansion in the third quarter,” Pinit said without giving further details.
Seamico, ranked 7th among Thailand’s 38 listed brokers, is focused on underwriting share and debt issues as well as advising companies on initial public offerings.
The Thai firm said last year it wanted to buy stakes in Vietnamese brokerage firms, but did not name any targets.
Vietnam’s main stock index rose 23 percent last year after jumping 145 percent in 2006, powered by a surge in foreign funds.
The index has fallen 42.3 percent so far this year.
Seamico expects to receive a license to enter Cambodia later this year, he said.
tn, Reuters
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