SET woosLao firms to list here

Written by changthai11 on Saturday, September 20th, 2008

ASIA FOCUS

The Stock Exchange of Thailand wants to invite companies from Laos to look at listing in Thailand and also hopes to help establish a local bourse in the neighbouring country after signing an initial agreement in July this year.

A delegation from the SET visited Laos from Sept 11-13 to discuss helping to establish a stock market at the request of the Bank of Lao PDR. Members met with Deputy Prime Minister Somsavat Lengsavat and Lao officials to discuss information exchange and support.

The SET’s support for the LPDR Stock Exchange is part of a memorandum of understanding signed with the central bank on July 7. The Thai delegation, led by SET chairman Pakorn Malakul Na Ayudhya, included SET president Patareeya Benjapolchai, executive vice-president Vichate Tantiwanich and a working committee.

During the trip, the SET also provided information on Thai-Lao joint investments, which would be crucial for capital market fund-raising.

“We invited Lao companies to list on both countries’ markets to create business opportunities for both nations and increase foreign listings on regional stock markets. Both countries agreed with the concept of an Indochina listing to strengthen both markets. The SET has previously expressed its readiness to welcome foreign listings,” Mrs Patareeya said.

The Thai delegates consulted with more than 150 representatives from the Lao government, local commercial banks, Thai-Lao joint ventures and the media and held a seminar on SET’s operations and Thailand’s experience in capital market development.

As part of the collaborative effort to set up the LPDR Stock Exchange, the SET will provide ongoing training programmes and specialists, covering regulatory matters, market operations and on-the-job training for Lao counterparts, Mrs Patareeya concluded.