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Banque Pour Le Commerce Exterieur Lao Public to offer new shares

Banque Pour Le Commerce Exterieur Lao Public is offering a total of 71,145,700 shares at a par value of 5,000 Lao kip per share by way of a rights offer and public offer.

The bank said in a prospectus released July 25 that it is offering 68,288,600 shares to existing shareholders at par value of 5,050 kip per share, or a ratio of two existing shares per one new share. The bank is also offering 2,857,100 shares to general shareholders at a par value of 5,300 kip per share.

Lao-China Securities Co. Ltd. is the underwriter for the issue.

As of July 25, US$1 was equivalent to 8,269.30 Lao kip.