Logo of Phnom Penh Post newspaper Phnom Penh Post - Acleda Bank Plc to hold IPO seminars in March

Acleda Bank Plc to hold IPO seminars in March

Content image - Phnom Penh Post
Acleda Bank was the first Cambodian commercial bank to be granted permission in principle to issue securities on the Cambodia Securities Exchange. Hong Menea

Acleda Bank Plc to hold IPO seminars in March

In preparation for its much anticipated initial public offering (IPO), locally-owned Acleda Bank Plc, the nation’s largest commercial bank, is hosting two seminars at its headquarters next month.

The bank is gearing up to join the local stock market, the Cambodia Securities Exchange (CSX), after having recently obtained permission to become a publicly listed company from the central bank and the market regulator. Acleda Bank will be the first commercial bank to join the bourse.

Acleda Bank president and group managing director In Channy announced events on March 3 and 10 in which prospective investors will be briefed on the bank’s business and financial performance, the IPO’s timeline, as well as the process of buying shares.

“We are pleased to invite all public investors to invest in Acleda Bank.

“The proceeds from the IPO will be used to improve the digital banking services of the bank, among other things,” Channy said.

Han Kyung-tae, managing director of Yuanta Securities (Cambodia) Plc, the company managing the IPO, said Acleda Bank’s listing is different because individual investors will be allowed to participate.

“This is the ‘People’s IPO’,” said Han.

“We’ve worked with the bank to come up with an allotment method that enables prioritised 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,” he said.

The bank is now carrying out the book-building process. Investors’ bids can range from 15,000 riel to 17,400 riel ($3.75 to $4.35).

The final price will be determined based on the bids submitted during the book-building process. Following this, investors will be invited to subscribe Acleda’s shares at the final IPO price from March 23 to April 4.

To participate in the book-building and subscription processes, investors must obtain an investor ID and a trading account with any securities firm licensed by the Securities and Exchange Commission of Cambodia, Channy said.

“The bank expects to be listed on CSX by the end of April. As the first commercial bank to join the bourse, Acleda Bank will serve as a role model for other banks in the country looking to raise capital through the Cambodian capital market,” he said.

MOST VIEWED

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American

  • Lost in translation: ‘Starvation’ in capital’s designated red zones

    “DACH bay” is a Khmer slang meaning a “loss of income”, that could also be literally translated to «deprived of rice”, which alludes to starvation. However, civil society organisation (CSO) officials have independently confirmed the government’s prior assertions that there are no cases of