The Lao Securities Exchange (LSX) has announced that it will be closed from December 27 to January 1, 2020, for last three business days of year’s end and on the New Year’s Day.
The bourse added that it will resume the operation on January 2, 2020.
The LSX was established in 2010 with technical and financial support from South Korea. The Korea Exchange has a 49 percent stake in the LSX.
Thailand provided technical advice to help build the exchange, and it became operational in January 2011.
The LSX saw a net loss of USD 3.5 million in 2013, USD 2.9 million in 2014 and USD 2.5 million in 2015. The bourse was able to reduce net loss significantly in 2016 when the figure stood at USD 1.6 million.
As of end-2018, it managed to further cut losses to USD 1 million. However, its operating revenue severely dropped from USD 1.3 million in 2017 to USD 140,530 in 2018.
Currently, a total of 11 companies are listed, all of which have been able to issue stock and raise over LAK 6.7 trillion (USD 750 million). There are currently over 15,000 individual brokerage accounts that have invested in corporate stock in Laos’ primary stock exchange.