 |
| Reuters |
Pestech Cambodia Ltd (PCL), a subsidiary of Malaysia-based Pestech International Bhd, was granted approval in principle to list on the Cambodia Stock Exchange, after submitting an application in December.
The company – an electric power firm that specialises in building power transmission lines, sub-stations, and underground power cable systems – would become only the sixth company to be listed in the local bourse if the listing is completed.
Soleil Lamun, director of the Listing and Disclosure Department at CSX, said PCL’s draft of disclosure document is almost finished and would soon be ready to be submitted to the Securities and Exchange Commission of Cambodia, the market regulator.
“The next process is to determine the share price and get approval from SECC on the disclosure document to be able to show it to investors before the official listing takes place.
“If things go as planned, the company could be listed on CSX within a few months,” he said.
Mr Lamun noted that the company operates in a sector completely different from the previous five companies that have joined the local stock market.
“The growth of the power infrastructure sector is closely linked to the growth of the economy and to government plans to promote economic development.
“How attractive the company will be to investors will depend on each investor’s preference and vision,” he said.
PCL’s initial public offering (IPO) will involve up to 39 million shares, each valued at 10 cents. The proposed public issuance could raise gross proceeds of $20.3 million.
Khmer Times
May Kunmakara
No comments:
Post a Comment