CCC, securities regulator call for firms to list on bourse
CCC, securities regulator call for firms to list on bourse
The Cambodia Chamber of Commerce (CCC) and the Securities and Exchange Commission of Cambodia (SECC) on Tuesday called on local companies to list on the Cambodia Securities Exchange (CSX).
The call was made at a seminar on securities market potential for business sustainability held at the CCC.
CCC vice-president Lim Heng said listing on the Kingdom’s stock exchange would enable businesses to mobilise capital from the market to help ensure their sustainability and would translate into national economic growth.
He said the Kingdom’s bourse is vital for the private sector to raise funds in preparation for the anticipated string of post-Covid-19 business expansions.
“Members of the chamber will in all likelihood have a clearer picture of the securities market following the seminar. I hope that they will take part in issuing securities to give investors eager to make a profit access to their shares,” Heng said.
Speaking at the seminar, SECC director-general Sou Socheat said private-sector participation is crucial to boost the number of companies listed on the CSX.
“We welcome all companies in the region to join us. We hope that all of our businessmen will be listed on the CSX, which will help companies raise cash and expand their investments,” he said.
At the same event, Acleda Bank Plc president and group managing director In Channy expressed his optimism that listing on the CSX would “provide access to capital, increase growth, diversify financing options, attract more public attention, increase transparency and integrity.
“[It will also] increase the liquidity of stocks and raise their prices as well as strengthen business operations and [ensure that they] grow sustainably.”
He noted that on May 25 his institution became the first commercial bank to list on the bourse, raising around $17.6 million.
He previously said that as of September 30, Acleda Bank had outstanding loans to the tune of $3.9 billion for 413,613 customers.
There are currently 13 listed firms in the Kingdom – seven stock-listed and six corporate bond-listed. The 13 companies have raised a combined $253 million, CSX data show.
CSX’s market capitalisation rose to $2.57 billion as of June 30, 4.5 times higher than the same date last year.
