Bourse ready for first-day trading, CEO says
The Phnom Penh Water Supply Authority will launch its initial public offering (IPO) today on Cambodia’s bourse, and investors and securities officials said yesterday that they expected the company to make a strong start to trading… …The Water Supply Authority is issuing 13 million shares, which accounts for a 15 percent share of the company. At %1.57 a share, the sale will generate more than $20 million Han Kyung-tae, managing director of Tong Yang Securities, the firm underwriting the Water Authority’s IPO, said the share price would only be allowed to rise 50 percent above its initial price and no more than 10 percent below in order to prevent wild swings in the company’s value…
