Business

Sacombank Securities to set up overseas firm

Sacombank Securities (SBS), listed on the HCM Stock Exchange, has signed a memorandum of understanding (MoU) with the Lao Development Bank to set up a joint venture securities company in Laos.
Sacombank Securities (SBS), listed on the HCM Stock Exchange, has signeda memorandum of understanding (MoU) with the Lao Development Bank toset up a joint venture securities company in Laos.

The joint venture, called Lanexang Securities Public Company Ltd (orSBS-Lao), will open in time to function in Laos 's first stock marketscheduled to open later this year.

The new company will provide a new investment channel for investors of both countries, officials said.

SBS's parent company, Sacombank, opened a branch in Laos in late 2008./.
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