ACLEDA Bank Plc, Cambodia’s leading commercial bank, is set to list its shares on the Cambodia Securities Exchange (CSX) on Monday.
The Initial Public Offering (IPO) marks a new chapter of ACLEDA Bank’s success story as the first commercial bank to be listed in Cambodia. Despite being in the middle of a global pandemic, 2,497 investors have successfully subscribed to the bank’s shares by participating in the flotation.
“This is the largest number of investors for IPOs in Cambodia and is a reflection of the trust and support that ACLEDA Bank has from its customers and the public,” according to the bank.
President and Group Managing Director of ACLEDA In Channy said individual and institutional investors now have the opportunity to invest in a listed commercial bank for the first time in the Kingdom. The new public shareholders of the bank will now be able to enjoy the benefits of its growth through dividends and capital gains.
“The IPO of ACLEDA Bank attracted many Cambodian retail investors to the CSX for the first time and will continue to contribute to the development of the Cambodia capital market,” Channy said.
Managing Director of Yuanta Securities (Cambodia) Plc Han Kyung Tae said that with ACLEDA Bank’s shares listed on the CSX, the total market capitalisation of the CSX will be tripled.
“We believe that ACLEDA Bank took a very important first step towards becoming a true people’s bank through the IPO. Yuanta, as the lead manager of this significant project, will continue to help the issuer and public investors by focusing on enhancing the liquidity of the bank’s shares in the secondary market,” Han added he believes that assisting the Issuer with follow-on offering and arranging block trades in the future will increase liquidity and attract more foreign investors to not only ACLEDA Bank’s shares but also the Cambodian capital market.
The CSX currently has 11 companies, five equity firms and six corporate bond firms with total capital collected recorded at $223 million.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.