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ETL, EDL-Gen woo investors
Enterprise of Telecommuni-cation Lao (ETL) and Electricite du Laos Generation Public Company (EDL-Gen) spent Saturday promoting their business operations to potential investors.
The BCEL-KT Securities Company held a seminar in Vientiane with ETL and EDL-Gen ahead of the companies offering shares to attract more investment.
The seminar, attended by more than 150 local and foreign potential investors, was chaired by executive officials of both companies.
ETL is expected to issue a prospectus and allow people to subscribe for shares at the end of this month. However, the IPO share price remains unset as the Lao Securities and Exchange Commission has not yet approved an official price.
An ETL official detailed the company's profile, past operations and future business plans - all essential information when it comes to making an informed investment decision.
The company will be offering shares representing 30 percent of its total value - five percent will be offered to ETL staff, 15 percent to domestic investors and 10 percent to foreign investors.
ETL plans to hold similar seminars in Luang Prabang and Champassak provinces.
EDL-Gen also outlined the company's profile, operations and business plan and announced its intention to offer additional shares for sale to the public.
EDL-Gen and BCEL bank are the only two companies listed on the LSX. Their shares are sold through two brokers, Lane Xang Securities Public Company and BCEL-KT Securities Limited.
With ETL's stock offering, it will be the third state-owned enterprise to list on the LSX.
The Lao Securities Exchange opened for trading in January this year and is a collaboration between the Lao government, which holds a 51 percent stake, and the Korea Exchange, which holds the remaining 49 percent stake.
vientiane times
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