Local stock brokerage company Sonatra Securities has announced it will completely dilute its books and put a halt on all business activities from October 1.
In a press release posted on Sonatra’s website last week, the firm stated without an explanation that it was suspending all operations for 12 months and that all securities will be returned to investors. ......
Taiwanese garment factory Grand Twins International (GTI) has carefully laid out a schedule so it can go public on Cambodia’s stock exchange after the dust settles from unrest tied to minimum wage disputes, according to the company’s chief financial controller, Henry Chen.
GTI received approval from the Securities and Exchange Commission of Cambodia (SECC) on Wednesday to list with an initial offering of eight million shares priced between $1.85 and $3.50, Chen confirmed with the Post during an interview at the SECC yesterday. The offering will help fund the construction of a new factory.
Upon its official listing on the CSX, which the company is planning for mid-year, GTI would become only the second stock traded on the bourse since the Phnom Penh Water Supply Authority went public to great fanfare in April 2012.
Marketing material obtained by the Post shows that GTI – Cambodia’s second-largest garment manufacturer – employed some 5,700 workers in 2012, with nearly 90 per cent of clothing produced sourced by sport-retail giant Adidas. Fellow Taiwanese garment manufacturer TY Fashion is also reportedly eyeing an IPO in the coming months. ......
After the listing of Taiwanese-owned garment company Grand Twins International (Cambodia) Plc on the Kingdom’s stock exchange was delayed indefinitely, its underwriter said yesterday that the firm hopes to list before the national elections in late July.
According to the underwriter, Phnom Penh Securities (PPS) Plc, negotiations between the company and the Securities Exchange Commission of Cambodia (SECC) over the initial public offering price are finished by now and “we hope [they can list] before the election…We still have a lot to do. We’ll try our best.”
In February, the Post reported that Grand Twins International said it intended to list on the Cambodia Securities Exchange (CSX) in March. PPS said then that the company would offer 12 million shares at $0.25 a share. ......