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ACLEDA Bank set to hold three-day listing event

January 8, 2020  |  Source: The Phnom Penh Post

ACLEDA Bank received principal approval after a Securities Exchange Commission of Cambodia (SECC) review, laying the foundations for CSX listing by late first quarter or early second quarter of this year.

ACLEDA Bank Plc. (ACLEDA Bank) is to hold a three-day event to inform potential investors of the commercial bank's viability ahead of its listing on the Cambodia Securities Exchange (CSX) later this year.

ACLEDA Bank received principal approval after a Securities Exchange Commission of Cambodia (SECC) review, laying the foundations for CSX listing by late first quarter or early second quarter of this year.

It became the first commercial bank to receive principle approval for its initial public offering (IPO), while Phnom Penh Commercial Bank Plc (PPCBank) was the first South Korean commercial bank to achieve the same benchmark.

ACLEDA Bank executive vice-president Buth Bunsayha told The Post on Tuesday that the bank will hold the event on January 10, 15 and 18, with it "a good opportunity to meet the public and investors".

She said it would allow ACLEDA Bank to begin its book-building process to determine demand.

"Any investor can participate in the event to learn [about the offering] and ask us questions before they invest in our securities. It is a good time for investors to prepare themselves and ensure that they have obtained Investor Identification if they wish to buy our shares."

"We hope to get approval from the SECC within the first quarter of the year, as we have submitted all the required documents. After that we [expect to] be listed on the CSX in late first quarter or early second quarter," Bunsayha said.

Sou Socheat, the director-general of the SECC, told The Post that the bourse will hold an internal meeting to review the applications of ACLEDA Bank and PPCB before submitting them for approval from Minister of Economy and Finance Aun Pornmoniroth sometime in the first quarter.

"We will do this in the first quarter of this year. We will process the applications of Acleda Bank and PPCB at the same time. We will submit the applications as soon as possible for the SECC meeting chaired by the Minister of Economy and Finance," Socheat said.