Cambodia’s leading economic zone presented IPO plan to potential investors during gala dinner.
Phnom Penh, 4th December 2015 – A large crowd of guests attended Phnom Penh SEZ's second pre-IPO dinner on the 4th of November in Phnom Penh. The event was held jointly by Campu Securities and Phnom Penh SEZ (PPSCL).
"Following the success of our first gala dinner held with Cana Securities last month, we are now organizing this event with Campu Bank and their clients who are interested in what we are doing. The IPO process is complex and we are meeting many people to explain what the benefits of investing in one of the country’s leading businesses are," , explained Carie Phou, company secretary and disclosure officer of Phnom Penh SEZ Plc. “Cambodia is on the map for many companies worldwide who are keen to benefit from our open economy and the many incentives the government offers. They are looking to produce in a professional environment in the heart of Southeast Asia. Cambodia itself is a fast growing market, and its strategic location is in the focus of many companies.”
Madam Lok Chumteav Okhna Lim Chhiv Ho, Chairwoman of Phnom Penh SEZ, set the tone of the night in her opening speech: "Phnom Penh SEZ is the most prosperous SEZ in the country and a business established for almost 10 years. Last year we generated 23.4 million of revenue, and I believe by opening our capital to the public, we will continue to grow and expand our operations."
Phnom Penh SEZ aims to offer up to 11.6 million shares on the Cambodian Stock Exchange (CSX), representing 20 percent of enlarged issued shares.
Mr Goh Keat Lye, CEO of Campu Securities explained that: "The indicative price range for the book building is from $0.70 to 1$ per new share. The total market capitalization of PPSCL would be from approximately $40.5 to $57.88 million."
In a first phase, 40 percent of the IPO shares are proposed to potential investors who are keen to purchase a minimum of 10,000 shares.
"The funds raised from the IP0 will be used mainly to expand the infrastructure of the actual SEZ site and increase the land bank ready for sales. This will include developing our 53ha of land recently acquired at the Thai border in Poipet. The other remaining part will be used to repay money borrowed to optimize our working capital." said Mr Fong Nee Way, CFO of Phnom Penh SEZ, during the investors briefing.
Phnom Penh SEZ has proven its expertise to successfully attract major groups such as Coca-Cola, Minebea and more recently Toyota. With 77 companies operating in the zone today and market conditions favorable, the company is on track to build on its past performance and offer its partners and shareholders growth and a successful partnership.