The Kingdom’s leading economic zone launches IPO during public event – first private Cambodian company to list
Phnom Penh, 20th April 2016 – Phnom Penh SEZ PLC launched its IPO roadshow on the 20th of April at Raffles Hotel le Royal in Phnom Penh. The company is ready to be the first industrial estate and one of only a few companies to be listed on the Cambodia Stock Exchange (CSX).
The IPO launch event was attended by H.E CHEA Vuthy, Deputy Secretary General of the Cambodian Investment Board and the Cambodian Special Economic Zone Board at the Council for the Development of Cambodia (CDC).
"It is a momentous occasion not only for our company, but also for Cambodia as a whole as our listing is the first of a major industrial zone on the Cambodian Stock Exchange. Today, Phnom Penh SEZ is the leading and most prosperous SEZ in the country and an established business for exactly 10 years this month," said Lok Chumteav Okhna Lim Chhiv Ho, Chairman of Phnom Penh SEZ, in her opening speech. "Most of our investors are internationally renowned groups which are attracted by the wide range of economic privileges our special economic zone and Cambodia as an investment destination have to offer. They thrive with our international standard of infrastructure, safety and management."
With 76 companies operating in the zone and a total investment of approximately US $460 million, Phnom Penh SEZ has changed the landscape of the Cambodian industry sector since its creation in April 2006, turning itself into a blue print for further projects attracting international high-tech companies to the Kingdom.
"We have been working hard to attract Japanese manufacturers to Cambodia as a way of bringing a wider range of modern industry sectors to the country, such as mechanical and electrical products, electronic parts and auto part manufacturing," says Mr. Hiroshi Uematsu, CEO of Phnom Penh SEZ PLC. "Our mission is to lead Cambodia’s industrialization. In order to continue moving forward and to expand further, we are proud to finally be listing on the Cambodia Stock Exchange."
Through its initial public offering, Phnom Penh SEZ PLC aims to acquire US $11.6 million, which will be invested in further expanding the infrastructure of the actual SEZ site and to increase the land bank available for sales. The company also plans to invest US $8.5 million to develop its new SEZ project at the Thai border, Poipet PP Special Economic Zone in Poipet, which has also been presented at the event.
Mr. Fong Nee Wai, CFO of Phnom Penh SEZ PLC took to the podium to share key financial information in detail with potential investors. During his speech he gave an outlook on the expectations on returns for investors: "With Phnom Penh SEZ essentially being a property company, the value of the stock will also rise on the back of the future value of the land, and with our dividend free policy, we target a dividend payout ratio of no less than 20% of our profit."
The indicative price range for the book-building period, which started on the 18th of April and ends on the 22nd is from US $0.70 to US $ 1 per share. Phnom Penh SEZ offers up to 11.6 million shares on the Cambodian Stock Exchange (CSX), representing 20 percent of enlarged issued shares.
Carie Phou, Company Secretary and Disclosure Director of Phnom Penh SEZ, is enthusiastic: "We are really delighted to share this particular milestone with the public. Today is a momentous moment for both Phnom Penh SEZ and for our country. We will be the first local private company ever to be listed on the Cambodian Stock Market. Hopefully, this will help in bringing further growth to the stock market”.