Companies lag on listing rules

Adding its name to a rapidly growing list of private companies, Tonlesap Airlines is gearing up for an initial public offering on the Cambodia Securities Exchange. And like many of these companies, the listing is still years off as Tonlesap prepares the tax and financial information required to go public. The three years of records is one of the major factors holding companies from listing on the exchange. While many insiders have said the three-year benchmark promotes a higher degree of transparency – and a more stable CSX – others say the time is an eternity not only for interested companies, but for the exchange itself, whose only traded company is losing the attention of investors. … The firm has recently recommended that the Securities and Exchange Commission of Cambodia (SECC) lower the required documentation to one year of financial and tax history, Hsu said, a move that he said would boost the number of companies on the bourse. Vietnam’s State Securities Commission requires only one year of disclosure from potential listing companies. …

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