Kingdom's leading special economic zone, recently listed on the Cambodia Securities Exchange, participated in promotion of IPO’s in the Kingdom
Phnom Penh, 8th June 2016 - On Tuesday 7th of June, Phnom Penh SEZ participated in "Securities Market: a path toward growing business", an event organized by the Cambodian Stock Exchange (CSX) at Sofitel Phnom Penh Phokeethra. The event was a great opportunity for the industrial estate to share its enthusiasm for the domestic stock market with the Cambodian business community.
The event was attended by H.E Dr. AUN Pornmoniroth, Minister of Economy and Finance and by H.E SOU Socheat, Director General of the Securities and Exchange Commission of Cambodia (SECC).
"Today's event is expected to bring together senior representatives of more than 100 companies, to meet with speakers from relevant institutions. We strongly hope that this conference will provide an opportunity for all participants, especially Cambodian companies, to have a better understanding of raising capital from the public as an alternative financing option," says Mr. Hong Sok Hour, CEO of the Cambodia Securities Exchange.
Since the opening of the Stock Exchange in Cambodia in July 2011 four companies have been listed, including Phnom Penh SEZ, which successfully concluded its IPO campaign last week and became the first private Cambodian company to go public.
Mr Fong Nee Wai, CFO of Phnom Penh SEZ PLC, was invited to represent the industrial estate during a panel discussion: "As the fourth company listed on the CSX, it is our role to share our experience and encourage more local entrepreneurs to look closely at the opportunity to go for an Initial Public Offering," says Nee Wai. "Thanks to transparency, businesses will gain investors' confidence, expand their source of funds for the long-term and consequently achieve a higher level of development and success."
Phnom Penh SEZ was already present at a first event in January 2015, when the CSX organized a similar event, "My First Stock", to promote the domestic market particularly among private investors from the general public.
"After 6 years, the growth of the capital market is slow and takes longer than expected to take off. A seminar or event like this should be regularly conducted, as it gives an opportunity to the general public, especially Cambodian companies, to participate and understand how the stock market works. I believe this is one of the keys to grow the stock exchange faster and to attract more foreign investors," said Nee Way.