ASEAN KEY DESTINATIONS
Economic zone aims for Q1 IPO, CSX listing
Phnom Penh Special Economic Zone – Cambodia’s largest industrial park – plans to raise $15 million in an initial public offering on the Cambodia stock market early next year, which would make it the third company to be listed.
Carie Phou, PPSEZ’s public relations director, told the Post yesterday that the company is working with underwriter Campu Securities and is targeting the IPO in the first quarter of 2015.
“We have been preparing all documentation in the last months and are making sure that we are in line with all requirements before doing the final step,” she said.
“Going for an IPO is for us the opportunity to share our goals and vision for the country with others investors,” Phou added.
Some 77 firms, employing more than 16,000 workers, currently operate in the zone, taking the industrial park to 80 per cent capacity. With the capital raised from the IPO, the Cambodian-Japanese joint venture company is considering a potential expansion, eying a 500,000-square-metre industrial zone in Poipet town, Phou said.
“We also want to allow Cambodians and international investors to join us in further developing Cambodia’s industrialisation,” she said.
Lamun Soleil, deputy director of the market operations department at the Cambodia Securities Exchange, said that the CSX had yet to receive the listing application from PPSEZ, but he welcomed firm’s intention to list.
“Its arrival will provide another choice for investors and make our market bigger and more attractive to investors.”--The Phnom Penh Post
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