Phnom Penh SEZ opens shares to the public

After having launched its IPO last month and in preparation of the upcoming listing on the Cambodian Stock Exchange at the end of May, the industrial estate is now opening its shares to the public.

Phnom Penh, 6th May 2016 –The leading economic zone in Cambodia is now inviting the public to purchase its shares during the subscription period from the 9th to the 11th of May.

"The response to the book building has matched our expectations. Everything has been completed according to plan with some of our shares experiencing over-flow. Our shares are all fully subscribed," says Mr. Fong Nee Wai, Chief Financial Officer of Phnom Penh SEZ Plc.

Based on the book building results approved by the Securities and Exchange Commission of Cambodia (SECC), the issue price of KHR 2,860 (equivalent to USD 0.713) per share has been confirmed. With the book building process completed and the share price set, the public application for subscription of the shares can start. 

"The subscription period is the final process of the IPO. As agreed with the SECC, we have allocated a fixed number of shares under the subscription process to be offered to the public. This period is where all the general public can apply for the shares that are offered during the IPO,"  says Fong Nee Wai.

Phnom Penh SEZ offers up to 11.6 million shares on the Cambodian Stock Exchange (CSX), representing 20 percent of enlarged issued shares. Of this 11.6 million, about 1.2 million are available to the public. The subscription period is due to start Monday the 9th until Wednesday the 11th of May.

"The general public should see buying our stock as a long term investment with a real potential for a gain. Our price is very competitive. Looking at the three other companies listed on the Cambodian Stock Exchange, our price is below their issue price - 70 cents per share is a very good price with a great potential in the future,"  says Fong Nee Wai. "We are very confident as we have always been since the beginning of the IPO process."

With 76 companies operating in the zone today and market conditions favorable, the company is on track to building on its past performance, offering its partners and shareholders growth and a successful partnership. On top of an attractive price share, Phnom Penh SEZ believes that its sound financial condition, its constant drive to grow and its ability to attract major groups such as Coca-Cola, Minebea and more recently Toyota, will be determining advantages in convincing the public to invest in its business model.

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