Local bank sets up financial consultancy JV in Laos

LDB chief executive officer Bounta Daravy said Lanexang Securities Joint Stock Company Limited will be inaugurated this October when the Lao stock exchange debuts.

The company, with initial capital of 30 billion Lao kip to which LDB contributes 49 percent, will provide financial consultancy services for enterprises seeking to list their shares on the Lao stock exchange.

This JV plans to raise its capital to 50 billion kip and expand operation, including stock brokerage.

Established in 2003, the state-owned commercial bank LDB has opened 11 representative offices in Vietnam, Thailand, Singapore, Japan, Germany, the US and Switzerland.

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