Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Slow start for GTI as public firm

Slow start for GTI as public firm

Grand Twins International (GTI) ended trading yesterday with a slight decline.

The newly listed company was changing hands at 9,480 riel ($2.36) per share at the 1pm close, down from 9,640 riel ($2.40) at the morning’s opening.

Douglas Clayton, CEO of investment firm Leopard Capital, said GTI’s slow start may be linked to volatility in the sector. Clayton pointed to Hong Kong-owned garment factory Yu Feng, which suddenly closed its doors and went out of business last week.

“[GTI] sounds like a progressive company, just in the wrong sector to serve as the CSX stalwart,“ Clayton said.

GTI is just the second company to list on the local bourse, following state-owed Phnom Penh Water Supply Authority’s listing in 2012.

The garment maker is the first ever private company to go public in Cambodia.

GTI shares fell almost 5 per cent on the firm’s first day of trading on Monday after launching at $2.41 per share.

0

Comments

Please, login or register to post a comment

Latest Video

Turkish Embassy calls for closure of Zaman schools

With an attempted coup against the government of President Recep Erdogan quashed only days ago and more than 7,000 alleged conspirators now under arrest, the Turkish ambassador to Cambodia yesterday pressed the govern

CNRP lawmakers beaten

Two opposition lawmakers, Nhay Chamroeun and Kong Sakphea were beaten unconscious during protests in Phnom Penh, as over a thousand protesters descended upon the National Assembly.

Student authors discuss "The Cambodian Economy"

Student authors discuss "The Cambodian Economy"

Students at Phnom Penh's Liger Learning Center have written and published a new book, "The Cambodian Economy".