Logo of Phnom Penh Post newspaper Phnom Penh Post - Grand Twins’ listing date official, but late

Grand Twins’ listing date official, but late

Grand Twins’ listing date official, but late

The Cambodian Stock Exchange (CSX) has approved Grand Twins International’s (GTI) final submission of IPO documents and issued an official listing date of June 16.

“Cambodia Securities Exchange has a great honor to inform the public that Grand Twins International (Cambodia) Plc is approved to be listed on CSX from 16 June, 2014,” it said in a statement.

The exchange issued the statement on Friday, nearly a week before GTI had hoped to commence trading on June 12. The new date marks the second time the IPO has been pushed back in as many weeks.

The regulator did not detail the exact reasons for the delay.

Stephen Hsu, CEO of Phnom Penh Securities, the chief underwriting firm overseeing the garment maker’s IPO, said that the postponement was due to the time required by CSX to process GTI’s final application documents.

“The CSX needed more time for operation,” he said, referring to the processing of GTI’s final documents.

The Taiwanese garment firm, which largely makes sporting apparel for Adidas and Reebok, will be just the second company to join the local bourse. Its offering of eight million shares at $2.41 each attracted more than 230 investors, mostly from overseas, according to Hsu.

MOST VIEWED

  • US names new ambassador to Cambodia

    US President Donald Trump on Friday appointed W Patrick Murphy as the new US Ambassador to Cambodia, replacing incumbent William A Heidt. A press release posted on the White House’s website said nominee W Patrick Murphy is currently acting principal deputy assistant secretary at

  • Kingdom is at a crossroads between East, West after poll

    It was dubbed a success by caretaker prime minister Hun Sen after the electoral victory of his Cambodian People’s Party (CPP), which is poised to take all seats in the National Assembly. But the July 29 national election has not been positively looked at by

  • Chinese influence to sweep Kingdom?

    Growing Cambodia-China ties have seen the latter’s influence sweep across the Kingdom through increased investments and tourism. The Asian giant has become the leading source of foreign funds in Cambodia, fuelling the construction sector with huge casino and hotel projects. Much of the growth

  • Final poll results confirm first single-party Assembly

    IN an unprecedented situation in Cambodian politics, the official results of the July 29 national elections have declared that the Cambodian People’s Party (CPP) will take all 125 seats in the National Assembly on the back of it receiving 76 per cent of the votes. The National