Cambodia’s bourse sees slow progress in 1st year of operations
The Cambodia Securities Exchange (CSX) has seen slow progress in its first year of operations because there has been only one listed firm and public knowledge about the stock market remains low, officials said Thursday. The CSX was officially launched trading on April 18 last year with only one listed enterprise, the state-owned Phnom Penh Water Supply Authority (PPWSA). “Because there is only one product in the stock market now, so the trading action is limited,” Ming Bankosal, Director General of the Securities and Exchange Commission of Cambodia, which is the CSX’s regulator, told Xinhua over telephone. “I believe that the situation will be improving from this year as three or four enterprises are planned to list on the CSX this year.” He said at the launching of the CSX, there were only 3,600 investors, but it was now up to 5,000 investors. … The PPWSA sold 13 million shares in its first IPOs (Initial Public Offerings) in last April with a share going for 6,300 riel (1.57 U.S. dollars). In May, the highest-priced stock was about 2.55 U.S. dollars a share, and then, it had gradually lowered to 1.55 U.S. dollars. …
Nguon Sovan
http://news.xinhuanet.com/english/world/2013-04/18/c_132320982.htm
