Underwriter for first IPO bullish on Phnom Penh Water and the CSX
The head of the underwriting team that will launch Cambodia’s first IPO April 18 is Han Kyung Tae, Managing Director of Tongyang Securities (Cambodia) PLC and a South Korean stock market specialist. … Tongyang Securities (Cambodia) Ltd. is the Cambodian subsidiary of Tongyang Group, a South Korean Conglomerate in financial services, information technology and manufacturing. …in December of 2006, the Korea Stock Exchange and the Ministry of Economy and Finance signed a Memorandum of Understanding, and that’s when Tongyang began to focus on stock exchange projects. Han’s team became exclusive financial advisor to the Ministry of Economy and Finance. “We started working with MEF and advised them that the first group of companies listed in the new stock exchanges were always the best state-run companies. Then the government finally chose Phnom Penh Water Supply Authority and two other SOEs, Cambodia Telecom and Sihanoukville Port. …
