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More than $160m raised at local bourse, new firms expected to list in 2020

November 5, 2019  |  Source: Khmer Times

CSX CEO Hong Sok Hour delivers a speech during an event last week.

The capital mobilised at the Cambodia Securities Exchange (CSX), the local stock market, since it was launched in 2012 has so far reached $161 million, bourse officials said last week.

Speaking to Khmer Times, CSX CEO Hong Sok Hour said awareness of the local bourse is growing rapidly and noted that it is becoming a more popular source of capital for local firms.

CSX now has eight companies listed – five in the main board and three in the debt security market.

"Together, these firms have mobilised a total of $161 million at the bourse where local companies get funding to expand their operations," he said.

The companies listed on the main board are Phnom Penh Water Supply Authority, Grand Twins International (Cambodia) Plc, Sihanoukville Autonomous Port, Phnom Penh SEZ Plc, and Phnom Penh Autonomous Port. Hattha Kaksekar Limited, LOLC and ABA Bank have issued bonds.

Mr Sok Hour said several other companies have shown interest in joining the bourse, and a few are expected to have an initial public offering (IPO) next year.

"We have already approved one company to join us but the company is not listed yet," he said. "Two more firms are preparing their applications."

He did not mention those companies by name but said they are SMEs and financial institutions.

"We will continue our mission and welcome companies that wish to list on CSX to raise funds to expand," he added.