Logo of Phnom Penh Post newspaper Phnom Penh Post - Acleda Bank’s shares oversubscribed as book-building ends

Acleda Bank’s shares oversubscribed as book-building ends

Acleda Bank’s shares oversubscribed as book-building ends

Acleda Bank’s shares have been oversubscribed during the book-building process, according to Yuanta Securities (Cambodia) Plc, the underwriter.

Yuanta Securities managing director Han Kyung-tae said that despite fears of the spread of Covid-19 and the effect the outbreak is having on international financial markets, demand for Acleda’s shares ahead of the bank’s initial public offering (IPO) has been high.

“While the book-building results are unofficial and subject to the approval of the Securities and Exchange Commission of Cambodia (SECC), investors must prepare for the subscription, which will begin on March 24.

“This IPO is a golden opportunity for retail investors to become shareholders of the most trusted and financially healthy bank in Cambodia,” he claimed.

Han said 4.3 million shares have been set aside for investors during the book-building.

“All public investors will be invited to purchase Acleda’s shares at the final IPO price from March 24 to April 4,” he said, noting that these dates are subject to approval from the regulator.

“Both successful and unsuccessful investors can still subscribe to more shares during the subscription period. Up to 21.8 million shares will be available for subscription at the final offering price.”

Acleda closed its books for the book-building process on Saturday. Yuanta Securities is preparing the allocation and final subscription price based on the book-building and subscription procedures.

Acleda president and group managing director In Channy said more than 2,000 individual investors participated in the book-building process. He is looking forward to welcoming the new shareholders.

The bank received approval in principle on its IPO on February 25. It plans to issue 8.7 million new shares and make 13.1 million existing shares available to the public.


  • Kingdom's Covid cluster cases jump to 194

    The Ministry of Health on February 25 confirmed 65 new cases of Covid-19, with 58 linked to the February 20 community transmission. The latest cluster cases include nine Vietnamese nationals, five Cambodians, one each from Korea, Singapore and Japan, with the rest being Chinese. This brings the total number

  • Locations shut, dozens more Covid-19 positive

    The Ministry of Health has closed 23 locations in connection with the February 20 community transmission of Covid-19 and summoned for testing anyone who had direct contact with affected people and places. The number of discovered related infections has risen to 76, including 39 women. In a press release,

  • Cambodia's Covid cluster cases rise to 137

    The Ministry of Health on February 24 recorded 40 more cases of Covid-19, with 38 linked to the February 20 community transmission. Of the 40, two are imported cases involving Chinese passengers. The 38 include two Vietnamese nationals and one Cambodian, with the rest being Chinese. This brings the total cases

  • Covid cluster raises alarm, health bodies urge vigilance

    The Ministry of Health and the World Health Organisation (WHO) in Cambodia have expressed great concern over the February 20 cluster transmission of Covid-19 in the community. Both entities appealed for vigilance and cooperation in curbing further spread of the virus. Ministry spokeswoman Or Vandine said

  • PM confirms third Covid-19 community transmission

    Prime Minister Hun Sen on February 20 announced the Kingdom's third outbreak of Covid-19 community transmission after 32 people tested positive in just over 10 hours. Addressing the public from his residence after an emergency meeting, Hun Sen said: "I dub it February 20 Community Event, in which 32 cases

  • AstraZeneca jabs touch down in Phnom Penh airport

    The first shipment of 324,000 doses of the AstraZeneca/SII vaccine which was provided through the Covid-19 Vaccines Global Access (COVAX) Facility was delivered to Phnom Penh International Airport on March 2. The rest of the COVAX provided vaccines will arrive in Cambodia at a later date.