Stocks buying company to operate in five months

The Banque pour le Commerce Exterieur Lao (BCEL) and a Thai Stock Company, KT Zmico Securities on May 17 signed a memorandum of understanding on the establishment of the first ever securities buying company Securities Company in Laos.

The newly founded company is expected to operate in October this year. BCEL holds 70 per cent of the company’s shares and KT Zmico Securities take the rest 30 per cent.

The memorandum was signed in Vientiane Capital by Director General of the Banque pour le Commerce Exterieur Lao, Mr. Sonesay Sithphasay, and Executive Chairman and CEO of the KT Zmico Securities Company, Mr. Chaipatr Srivisarvacha.

The signing was witnessed by Lao Standing Deputy Prime Minister Somsavat Lengsavad.

According to the agreement, the KY Zmico Securities Company will act as a consultant to the BCEL on fund mobilising and finance service.

KPL Lao News Agency

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