Reuters - Tuesday, April 22
The company also planned to sell up to 1 billion baht ($32 million) -
BANGKOK, April 21 - Thailand's Seamico Securities aimed to finalise
plans later this year to expand into Vietnam and Cambodia, two of
Asia's fastest-growing economies, the brokerage firm said on Monday.
The company also planned to sell up to 1 billion baht ($32 million)
worth of debentures during June and July, Seamico Vice Chairman and
Managing Director Pinit Puapan told re****ters.
"We should have a clear picture of our overseas expansion in the third
quarter," Pinit said without giving further details.
Seamico, ranked 7th among Thailand's 38 listed brokers, is focused on
underwriting share and debt issues as well as advising companies on
initial public offerings.
The Thai firm said last year it wanted to buy stakes in Vietnamese
brokerage firms, but did not name any targets.
Vietnam's main stock index rose 23 percent last year after jumping 145
percent in 2006, powered by surge in foreign funds. The index has
fallen 42.3 percent so far this year.
Seamico expected to receive a licence to enter Cambodia later this
year, he said.
On Monday, Seamico shares closed down 1.8 percent to 3.22 baht while
the overall index was 0.4 percent lower. (Re****ting by Saranya
Suksomkij; Writing by Ploy Chitsomboon; Editing by Darren Schuettler)
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