Acleda’s ToanChet app set to facilitate transactions at CSX
Acleda’s ToanChet app set to facilitate transactions at CSX
Investors can now use Acleda Bank Plc’s app ToanChet to buy shares at the Cambodia Securities Exchange (CSX), Acleda Securities Plc announced on Monday.Acleda Securities said investors who have trading accounts with it or other securities firms which use Acleda Bank as their cash settlement bank can now link their trading accounts through ToanChet.
Acleda Securities president and CEO Prom Visoth said that investors can quickly and conveniently use their ToanChet accounts to buy shares of any publicly listed company in Cambodia.
“The convenience of this system will boost the number of transactions at CSX and increase its market capitalisation. It will increase liquidity and encourage more companies to list to raise funds,” he said.
Acleda Bank is now preparing to go public, with its initial public offering expected sometime in the first quarter of the year.
Last year, market capitalisation at CSX increased by 157 per cent to $800.39 million. There are five companies listed on the main board, while three companies have issued bonds.
The number of investors at CSX has reached 22,338, of which about 17 per cent are foreigners. On average, 1.7 million shares – worth about $4.2 million – are traded each month, according to data from the Securities Exchange Commission of Cambodia, the market regulator.
As of last year, there were five central counterparties in the derivatives market, 27 derivatives brokers, five fund management companies and five trustees.
