PPWSA sets an IPO date
Phnom Penh Water Supply Authority aimed to raise US$20.4 million in a long-awaited initial public offering scheduled for mid-April, the company said yesterday during its first pitch to investors. “We’ve targeted trading for the 18th of April,” said Han Kyung-tae, managing director of Tong Yang Securities (Cambodia), an underwriter for state-owned PPWSA and Telecom Cambodia. Government officials, however, said trading could be pushed back again if investor demand for PPWSA’s IPO was higher than expected. PPWSA’s pitch, or “road show”, is expected to last two weeks as the company holds a number of information sessions for investors to prove its readiness to operate as a public company. …
