Leading telecom company Cellcard receives approval in principle to list on Cambodia’s bourse

PHNOM PENH, March 29– The Cambodia Securities Exchange announced on Wednesday that it has granted approval in principle to telecommunication company CAMGSM PLC., known as Cellcard, to list on its bourse. “In order to be officially listed and have its securities traded on the CSX, CAMGSM PLC. shall get approval on public offering from the Securities and Exchange…

PHNOM PENH, March 29 (Xinhua) — The Cambodia Securities Exchange (CSX) announced on Wednesday that it has granted approval in principle to telecommunication company CAMGSM PLC., known as Cellcard, to list on its bourse.

Cellcard will be the first telecommunication operator to list its equity securities on the CSX, said a CSX’s press statement.

“In order to be officially listed and have its securities traded on the CSX, CAMGSM PLC. shall get approval on public offering from the Securities and Exchange Regulator of Cambodia (SERC) and meet further listing requirements of the CSX,” the statement said.

CAMGSM PLC. is the second company that has received approval in principle on listing eligibility review from the CSX so far this year, the statement said.

Incorporated in 1996, Cellcard is one of the leading telecommunication operators in the Southeast Asian nation, it said, adding that the company has 52 retail outlets, 2,900 dealers and around 3,000 cell sites across the kingdom.

Launched trading in 2012, the CSX is a joint venture between the Cambodian government holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent.

CSX’s chief executive officer Hong Sok Hour said that to date, the CSX has received a total of 18 listed companies, including nine equity firms and nine corporate bond firms, collecting a total capital of 317 million U.S. dollars.

He added that some 36,000 investors have so far opened trading accounts at the CSX. Enditem