Phnom Penh SEZ received approval from the Securities and Exchange Commission of Cambodia (SECC) to be listed on the Cambodian Stock Exchange (CSX) - The industrial estate is ready to go public and meet the IPO challenge.
Phnom Penh, 6th April 2016 - On March 23rd, the Securities and Exchange Commission of Cambodia (SECC) gave its principal approval for Phnom Penh SEZ to go public. Cambodia’s leading industrial park and special economic zone is now on the home stretch of the listing process. To be listed under the abbreviation PPSP, the 10-year old company is on track to become the first major industrial estate to be listed, and one of only a few companies on the Cambodian stock exchange.
"This decision is a determining breakthrough in the long and arduous process of going public, we have now finalized the timeline with the SECC and we are glad to announce our book building period which runs from the 18th to the 22nd of April 2016," explains Carie Phou, Company Secretary and Disclosure Officer of Phnom Penh SEZ PLC. "It is a decisive and exciting milestone for our company, and a great opportunity for the public to join us for our official IPO launch."
The public event takes place on the 20th of April 2016 at Raffles Hotel le Royal from 9 am to 12 pm and will be hosted by Madam Lok Chumteav Okhna Lim Chhiv Ho, Chairman of Phnom Penh SEZ PLC., accompanied by Mr. Hiroshi Uematsu, Chief Executive Officer and Mr. Fong Nee Wai, Chief Financial Officer.
What: Phnom Penh SEZ IPO launch
When: 20th of April 2016 - 9am to 12pm
Where: Raffles hotel le Royal
Guests are invited to attend the event where they will be informed of the detailed processes of the Initial Public Offering, the future development plan of the leading Cambodian's economic zone and the investment opportunities offered by the upcoming listing on the Cambodian Securities Exchange. A range of professional underwriters will be available during the event to answer questions, to register interest and to provide professional services to investors who wish to invest into the company.
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.
"As initially planned, we maintain the set amount of shares we are going to issue. The indicative price range for the book building is from $0.70 to 1$ per new share. The total market capitalization of Phnom Penh SEZ would be from approximately $40.5 to $57.88 million." said Mr Fong Nee Wai, Chief Financial Officer of Phnom Penh SEZ PLC.
With 76 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. In particular, its planned expansion in Poipet, near the Thai border, is aiming at providing fertile manufacturing ground to a range of companies in need of a widely available young workforce.
The interested public can register for the IPO event online at www.ppsez.com