Cambodia Securities Exchange (CSX) will partner with the Stock Exchange of Thailand (SET) to bolster technical knowledge and potential investment into Cambodia’s nascent stock market.
An agreement between the two financial institutions was signed in Phnom Penh yesterday at the CSX office, a deal that will see the SET provide training courses for CSX staff as well as information sharing between the two exchanges, according to Lamun Soleil, deputy director of market operations department at the CSX.
“Thailand is a country where the capital market is very developed and also a place where many international companies gather,” he said.
“The [memorandum of understanding] will create a chance to strengthen networking and can attract investors in Thailand to invest in the Cambodia Stock Exchange.”
Svay Hay, president and CEO of Acleda Securities, welcomed the bilateral agreement he said would hopefully open the way for multilateral cooperation with other countries, especially within the region.
“When we have more partners and wider networking, it encourages investors to come, as it makes them more confident on the market,” he said.
“When many markets are connected, the members in the market have better relations so that they can exchange investment opportunities with each other.”
Cambodia’s bourse is counting down the days to its newest listing, with garment factory Grand Twins International (GTI) expected to go public at the end of this month.
The Taiwanese company will be the second listing on CSX since it commenced trading in 2012 with the Phnom Penh Water Supply Authority’s initial public offering.
GTI is expected to begin trading on May 29 with eight million shares at $2.41 each.