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.

MOST VIEWED

  • Municipal hall releases map detailing colour coded Covid risks by commune

    Phnom Penh municipal governor Khuong Sreng released an official map detailing the red, yellow and dark yellow zones within the city under the new lockdown orders for Phnom Penh announced on April 26. The designation of red, dark yellow and yellow corresponds to areas with high,

  • 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

  • Phnom Penh, Takmao lockdown extended for another week

    The government late on April 26 announced an extension of lockdown in Phnom Penh and adjacent Takmao town in Kandal province for another seven days – or longer if residents do not comply with Covid-19 preventive measures and the community outbreak does not subside – until May 5. According

  • Gov't mulls extension of Phnom Penh, Takmao lockdown

    The Inter-ministerial National Commission for the Control and Enforcement of Lockdown held a video conference meeting on April 25 to review a draft document on the extension of lockdown in Phnom Penh and adjacent Kandal province’s Takmao town. The meeting was chaired by Minister of

  • 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