The Lao Securities Exchange (LSX) has launched the trading of the shares of Lao Asean Leasing Public Company (LALCO), marking the 11th company registered on the bourse.
LALCO’s main business is to provide a credit line for individual and corporate customers to buy motorcycles and cars. The company currently operates branches in seven provinces, namely Houaphan, Xieng Khouang, Luang Prabang, Bolikhamxay, Savannakhet, Champasack and Salavanh.
On October 10, the first day of trading, the company shares were traded at LAK 3,000 (USD 0.34) per share, rising by LAK 300 from LAK 2,700 per share when it was announced for public booking early this month, Lao News Agency (KPL) reported.
KPL quoted LALCO Director-General Tomofumi Suematsu as saying that all 60.3 million shares were fully booked on the first of three days the company offered for booking.
Early last month the company announced to the public booking opportunities for the initial public offering (IPO) after its application was approved in August by the LSX and the Lao Securities Commission Office.
LALCO is expected to use the fund from selling shares to expand its leasing business in Vientiane Capital and all provinces nationwide.