|
Positive gains in first day of trading on Lao Securities Exchange
The first day of trading in shares of two companies listed on the Lao Securities Exchange (LSX) on Tuesday saw rising share prices amid strong investor confidence.
The Lao bourse closed for trading at 11am yesterday with positive gains recorded. The share price of Banque Pour Le Commerce Exterieur (BCEL) increased to 8,000 kip, up from the initial public offering price of 5,500 kip a unit. Total trading volumes in BCEL shares were recorded at 200,000, with a value of 1,600 million kip.
Stocks in EDL Generation climbed to 4,700 kip, rising from an initial price of 4,300 kip per share. Trading volume was 114,505 shares at a value of over 538 million kip.
The combined market value of the two companies is more than 2,138 million kip.
Investor confidence in the business operations of the two publicly listed companies is strong and sentiment is that they will continue to expand rapidly in the near future.
One investor in BCEL said yesterday that she researched carefully before making the decision to purchase shares in the bank and she is confident her investment will provide good returns. She also said she would like to purchase more shares in the bank.
BCEL is one of the largest banks in Laos and has experienced robust growth since it was first established in 1975. It offers numerous products and services and operates joint ventures with many foreign banks including the Lao-Viet and Lao-French banks in Vientiane. It also operates other businesses.
The bank plans to expand its products and services in the next three years to ensure it can deliver substantial dividends to all shareholders.
EDL Generation also has a strong asset base and a clear business plan for the future. It plans to increase investment in power plants to generate electricity to meet growing demand for power in line with government policy.
From now to 2020 the company will increase electricity generation capacity from 287 megawatts (MW) to about 2,238 MW.
From yesterday until April 30, investors trading on the LSX will have to pay taxes and fees accounting for 0.91 percent of the total value of each purchase and 1.21 percent for each sale of shares, according to information from the Lane Xang Securities Public Company.
Today the market will open for trading at 8:30am and close at 11:30am.
vientiane times
|
