Water Authority Share Price Hits New Low
The usually static share price of the Phnom Penh Water Supply Authority (PPWSA), still the only company listed on the Cambodia Securities Exchange (CSX), fell Monday to its lowest price since it began trading more than two years ago. At the close of business Monday, the share price of the firm had fallen to 5,960 riel, or about $1.46—7 percent lower than its initial launching price on April 18, 2011. When the CSX launched, the PPWSA’s shares soared by almost 50 percent on the first day of trading and continued to an all time high three days later of 10,000 riel, or about $2.57. However, it slowly slumped back toward the initial public offering of 6,300 riel, or about $1.57, then dropped further to 6,200 riel, or $1.55- a price from which it had barely moved since January. … During Monday’s activity, just 550 shares were traded compared to almost 900,000 on the opening day of trading. Yet despite the notable lack of activity since it opened, the CSX will move homes from the Canadia Tower, where the trading floor has been closed for months, to a French colonial-era building on Street 106 currently undergoing a $6 million renovation. …
Hul Reaksmey
http://www.cambodiadaily.com/business/water-authority-share-price-hits%E2%80%88new-low-42002/
