Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia bourse to get second IPO in April

Cambodia bourse to get second IPO in April

Taiwanese garment factory Grand Twins International will be the second company to go public on Cambodia’s fledgling stock exchange, the Securities and Exchange Commission of Cambodia (SECC) confirmed yesterday.

In a first for Cambodia’s turbulent garment sector, Grand Twins – the second largest garment factory in Cambodia, according to its own statistics – anticipates listing in April, according to Chhun Sambath, director of the security insurance supervision department of the SECC. It will join the Phnom Penh Water Supply Authority.

“[The company] has prepared quite well,” Sambath said in a recent interview, adding that Grand Twins was calculating an opening price somewhere between $1.85 and $3.50 per share. A pitch to potential investors says that 8 million shares are going up for sale in the IPO.

The firm did not return calls yesterday, but the manufacturer’s marketing material says it had some 5,700 employees in 2012, and that nearly 90 per cent of the clothing produced at the factory ships to sports retail giant Adidas.

Grand Twins first announced listing plans in 2011 but delayed the IPO several times, once over disagreements regarding share prices.

0

Comments

Please, login or register to post a comment

Latest Video

Mark Morris Dance Group's Khmer Triumph

The world renowned Mark Morris Dance Group swirled into the Kingdom to perform and share their knowledge with local dancers as part of the US State Department's Dance Motion USA program.

Paris Peace Agreements

Anniversary met with animosity

Anti-Vietnamese sentiment strong at commemoration of Paris Peace Agreements.

Veterans

Veterans short-changed

Former soldiers, many disabled, travel far to the capital in their almost decade long battle to regain lands promised to them in return for defecting from the Khmer Rouge.