PPWSA up again, with retail buyers moving in
The price increase for Phnom Penh Water Supply Authority shares maxed out after an hour of trading yesterday morning, the second day of operations on the Cambodia Securities Exchange. PPWSA closed up 4.84 per cent yesterday at 9,750 riel (US$2.44), climbing from 9,300 the day before, as an increasing number of retail investors bought into the company. A total of 488,528 shares were traded. Daily price increases or decreases are capped at 5 per cent, according to regulations. Retail investors would be interested in short-term cash flow and would add to market activity as prices continue to climb, ACLEDA Securities president and managing director Svay Hay said yesterday in an email...
