Two companies likely to be listed on CSX next year

A CSX monitor displays trading activity in Phnom Penh. KT/Chor Sokunthea

Two new companies – from the education sector and small and medium enterprises – are likely to be listed on the stock market, according to the Securities Regulator of Cambodia.

Mengly J. Quach Education, a provider of educational services
and Ly Ly Food, a local SME, are preparing for listing on the Cambodia Securities Exchange, Sou Socheat, Director-general of the Securities Regulator of Cambodia, said.

“In 2023, two more well-known companies in the field of education and small and medium enterprises plan to issue IPOs, while both companies are now ready to enter the stock market,” he said at a signing ceremony between ACLEDA Bank and Securities and Exchange Regulator of Cambodia on the usage of electronic payment services for payment on Online Investor Identification Number yesterday.

If all companies are ready by the first half of 2023, they will be involved in the listing, he said.

CSX’s chief executive officer Hong Sok Hour said that the exchange so far has 16 listed companies, including nine equity firms and seven corporate bond firms, collecting a total capital of more than $280 million.

The total market capitalization of the equity market is about $1.75 billion, while the average trading volume in 2022 is about 260,000 shares.

To date, some 31,000 investors have opened trading accounts at the CSX, he said, adding that about 10 percent of them are foreign investors.

In the early period of 2022, the trading volume increased compared to the previous years, and CSX expects this trend to increase till the end of the year. It means that in 2022, CSX expects the daily trading volume to reach $300,000 to $400,000, making the best growth in trading, Sok Hour said.

Launched in 2012, the CSX is a joint venture between the Cambodian government, which holds a 55 percent stake while the Korean Exchange owns the remaining 45 percent.

Source: Chea Vanyuth / Khmer Times