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navigate_nextMedianavigate_nextOur Newsnavigate_nextACLEDA Raises Capital to US$60 million
ACLEDA Bank Raises Capital to US$60 million
January 23, 2009
Phnom Penh — January 23, 2009 — ACLEDA Bank Plc., Cambodia's foremost retail bank, has increased its capital from US$50 million to US$60 million.
ACLEDA Bank Plc., is 51% owned by Cambodian interests, including its staff, with the remaining 49% held by leading international institutions including the International Finance Corporation (IFC), Deutsche Investitions-und Entwicklungsgesellschaft (DEG), Netherlands Development Finance Company (FMO), Triodos-Doen Foundation and Triodos Fair Share Fund.
As previously, the additional capital has been raised by means of a rights issue of 10 million new fully paid shares of US$1 each, all of which have been taken up by the existing shareholders. Its current shareholders structure has been changed as follows:
| Shareholders | Number of Shares | Subscription Price (US$) | Ownership (%) |
|---|---|---|---|
| ACLEDA NGO | 19,200,000 | 19,200,000 | 32.00 |
| ASA., Inc. | 11,400,000 | 11,400,000 | 19.00 |
| DEG | 7,350,000 | 7,350,000 | 12.25 |
| FMO | 7,350,000 | 7,350,000 | 12.25 |
| IFC | 7,350,000 | 7,350,000 | 12.25 |
| Triodos Doen | 3,685,750 | 3,685,750 | 06.14 |
| Triodos Fair Share Fund | 3,664,250 | 3,664,250 | 06.11 |
| Total | 60,000,000 | 60,000,000 | 100% |
This is the fifth time ACLEDA has raised its capital since becoming a bank. In 2000, it raised US$4 million to launch ACLEDA Bank Limited as a specialised bank. In 2003, in order to support its growth it boosted its capital to US$13 million by means of a rights issue and at the same time re-registered as a full commercial bank under the name "ACLEDA Bank Plc." In 2006, it again increased its capital to US$30 million and US$50 million in 2008 to finance its branch expansion and build an ATM network whilst this latest addition will enable the bank to grow continuously to meet its strategic goals.
