MediaOur NewsSECC Approved in Principle to the IPO of ACLEDA Bank Plc.

SECC Approved in Principle to the IPO of ACLEDA Bank Plc.

February 26, 2020

ACLEDA Bank Plc., one of the largest commercial banks in Cambodia, received approval in principle on its initial public offering (IPO) from the Securities and Exchange Commission of Cambodia ("SECC") last Tuesday, February 25th, 2020. ACLEDA Bank is set to become the 1st commercial bank in the Kingdom of Cambodia to be issued shares on the Cambodia Securities Exchange ("CSX"). The Bank planned to issue 8,751,391 new shares and make 13,127,086 of existing shares available to the public.

Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., said that "We are pleased to invite all public investors to invest in ACLEDA Bank's IPO. The Bank will host two roadshow events at ACLEDA Bank Headquarters on March 3rd and March 10th, 2020, where there will be presentations on the overview of the Bank's business and financial performance, the expected timeline of the IPO, as well as investor guidelines on how to buy Bank's shares during the IPO."

Following the SECC's approval in principle, the Bank can now officially carry out its Book Building process and invites all public investors to bid on the share price within the given price range of KHR 15,000 (fifteen thousand Riels) to KHR17,400 (Seventeen thousand four hundred Riels) per share. The final offering price will be determined based on the bids submitted during the Book Building period between March 3 and March 14, 2020. After book building, all public investors will be invited to Subscription process to subcribe ACLEDA Bank's shares at the final IPO price from March 23 to April 4, 2020.

"To participate in the Book building and Subscription process, investors shall have an investor ID and a trading account with any securities firm licensed by the SECC," Dr. In Channy explained, adding that "the Bank expects to be listed on the Cambodia Securities Exchange ("CSX") by the end of April 2020. As the 1st commercial bank to be listed on the CSX, ACLEDA Bank will serve as a role model for other banks in the Banking and Financial sector that are looking to raise capital through the use of the Cambodian capital market."

Mr. Han Kyung Tae, Managing Director of Yuanta Securities (Cambodia) Plc. said that "What makes ACLEDA Bank's IPO unique and different from the previous IPOs is that the Bank does not reserve shares exclusively for potential institutional investors. All of the issued shares will be offered to public investors. ACLEDA Bank's IPO will be promoted as the "People's IPO," encouraging retail investors and the general public to participate in the IPO according to their financial capability. We've worked with the Bank to come up with an allotment method that enables prioritized allocation to retail investors who subscribe 1,000 shares or less. This IPO is a golden opportunity for retail investors to become shareholders of the most trusted and healthy bank in Cambodia."

Dr. In Channy said that the proceed from the IPO will be used to improve the digital banking services of the Bank as well as for its general corporate purpose.

For more information, please contact:

Mrs. Buth Bunsayha
Executive Vice President & Group Chief Legal Officer and Corporate Secretary (Disclosure Officer)
Tel: 015 600 532
Email: buth.bunsayha@acledabank.com.kh

Mrs. Mar Amara
Executive Vice President & Group Chief Financial Officer (Public Relation Officer)
Tel: 015 900 126
Email: amara@acledabank.com.kh

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