Public Offering

    1. Criteria for the issuance of stocks to the public
    1. Any companies wishing to issue securities for public offering shall meet the following criteria:
    2. 1. Being public company established in accordance with Lao Enterprise Law;
    3. 2. The company must run business more than 3 years before submitting the issuing file, except the company previously merged, acquisitioned or changed the form of business but originally the mentioned company must run business more than 3 years before changing the form of business​;
    4. 3. Board of directors shall include independent director at least 1/3 of total members and audit committee must consist of at least three BOD members, with at least one member having financial and accounting knowledge;
    5. 4. At least 3 people in the internal audit committee assigned by BOD and 2/3 must be independent members and at least one of the committee members must have accounting or financial background;
    6. 5. Having a plan for offering and use of capital received from the offering which approved by general shareholder’s meeting;
    7. 6. While doing filing, the company must submit last year audited financial statements with green opinion or qualified opinion with less impact to performance and financial position of the company;
    8. 7. Have not changed the form of the company during last 3 years;
    9. 8. Having at least 1 billion kip sales before filing day, in the financial statement must not contain retained loss and overdue loan. Furthermore,  last year net profit must be positive;
    10. 9. The certificate of preparedness for offering from securities firm (finance advisor);
    11. 10. Entering into contract with underwriter;
    12. 11. Having public offering plan as well as 3 years business plan and forecasted financial position which approved by BOD;
    13. 12. Other criteria and conditions as stipulated by the LSCO.


    2. - Application documents for public offering
    1. The application documents shall include the following documents
      2. 1.
      1. An application form of IPO as defined by the Office;
      2.
      1. A certified copy of the company’s business registration certificate;
      3.
      1. A certified copy of the company’s tax registration certificate;
      4.
      1. A copy of company’s regulation;
      5.
      1. Resolutions of the General Shareholder’s Meeting approving the plan for offering and use of capital received from the offering of securities to the public;
      6.
      1. The list of principal shareholders who hold a company’s share from 1% of total shares;
      7.
      1. The company’s charter; the curriculum vitae of members of the Board of Management;
      8.
      1. The certificate of preparedness for offering from securities company;
      9.
      1. last year audited Financial statements by an approved external auditing company;
      10.

      1. Plan for offering and use of capital received from the offering of securities to the public, 3 years future business plan and financial forecasting;
      11.The prospectus;
      12.
      1. Contract with underwriter
      13.
      1. Opinion of internal audit committee about previous year business performance;
      14.
      1. Criminal Record;
      15.
      1. Other documents as specified by the LSCO.

 

Securities Issuance

Criteria for the securities issuance

Responsible of Issuance Companies

Issuance Company

Application Form

Corporate Governance