Phnom Penh SEZ listed on the Cambodian Stock Exchange

Kingdom’s leading economic zone launched public listing on the Cambodia Securities exchange (CSX) – Shares trade under the name "PPSP"

Phnom Penh, 30th May 2016 – The board of directors and key private and institutional investors attended the official listing ceremony of Phnom Penh SEZ Plc. on the Cambodia Securities Exchange today. After successfully raising $8.2 million in an initial public offering, the industrial estate becomes the first private Cambodian company to list on the Cambodian Stock Exchange (CSX).

The official listing ceremony was presided over by Mr. Hong Sok Hour, Chief Operations Officer of the Cambodia Securities Exchange (CSX) and observed by H.E.Mr. Sou Socheat, Director General of the Securities Exchange Commission of Cambodia (SECC). Institutional investors from Thailand, Japan and Malaysia who covered a major part of the shares allocated during the IPO process also joined the ceremony.

"This is a fantastic day for Phnom Penh SEZ. The road to being listed by the Securities and Exchange Commission of Cambodia (SECC) was long. Our decision to go public is rooted in our desire to keep growing, to remain the most attractive investment destination in Cambodia, and to help move our country’s industrialization forward," said Lok Chumteav Okhna Lim Chhiv Ho, Chairman of Phnom Penh SEZ Plc. "It is a milestone not only for our company but for our nation as a whole, as our listing today is the first both of a major industrial zone and of a private Cambodian Company."

Phnom Penh SEZ Initial Public Offering (IPO) saw a high demand from the business and investment community both domestically and abroad. All 11,575,000 shares offered during the IPO were fully subscribed at the issue price of KHR 2,860 (USD 0.713) per share. The entire 57,875,000 shares of the industrial estate are now listed on the Cambodia Securities Exchange (CSX) under the listing name “PPSP”.

"Funds from the IPO, which our current shareholders have already committed to investing into the company and its future expansion, are expected to expedite the company through to its next stage of development. We are here for the long term and are not looking for fast profits. We aim to provide stable returns to our partners and investors for years to come,"  said Lok Chumteav Okhna Lim Chhiv Ho.

This major developmental step allows the industrial estate to plan an investment of 3.5 million to expand the actual SEZ in Phnom Penh and in its new 53ha SEZ project in Poipet (Poipet PP Special Economic Zone). At the Thai border, the company aims at meeting the demands of higher technology manufacturers and hopes to attract groups that look for a secure investment in a strategic location within the Asean Economic Community (AEC).

"Our whole team has worked very hard to get to where we are now and to move forward with this exciting new challenge," says Mr. Hiroshi Uematsu, CEO of Phnom Penh SEZ Plc. "Our listing today is a significant sign of confidence in the market, in our business, and in a prosperous future for Phnom Penh SEZ, for our investors, and for Cambodia. We are really proud to finally be listed on the Cambodian Stock Exchange."

As the event came to a close, Mr. Fong Nee Wai, CFO of Phnom Penh SEZ Plc. encouraged investors to look closely at the PPSP share price development: "We believe that in the next two years the Stock Exchange will take off. Buying our stock is a long term and secure investment with a real potential for gain in the future. We hope that Phnom Penh SEZ’s listing will generate excitement in the domestic market and boost investors’ confidence in Cambodia as a whole.''

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