The National Business Improvement Office under the Lao Prime Minister's Office will shortlist about 20 state companies this month for listing in the country's first stock market, scheduled to be set up in 2010.
The office has already compiled a list of 30 state companies among 200 in the country. The list has been sent to local organisations responsible for enterprise management and evaluation to further reduce the list to about 20, Deputy Head of the National Business Improvement Office Sonephet Inthavong was quoted by Xinhua news agency as saying to the Vientiane Times.
Of the 30 companies, there are 15 state-owned companies and the rest are joint ventures between the State and private units. Many domestic private companies also expect to be listed on the stock market.
Companies listed on the stock exchange will be required to keep clear and accurate accounts because they will be examined regularly by domestic and external auditors and shareholders.
Construction of the first stock market in Laos is expected to begin in the middle of this year. It will cost about 50 billion kip (5.9 million USD) excluding the cost of information technology (IT) systems installation.