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

  • Cambodia-Thailand rail reconnected after 45 years

    A railway reconnecting Cambodia and Thailand was officially inaugurated on Monday following a 45-year hiatus, with the two kingdoms’ prime ministers in attendance at the ceremony. On the occasion, Cambodian Prime Minister Hun Sen and Thai Prime Minister Prayut Chan-o-cha travelled together from Thailand’s

  • Thousands attend CNRP-organised pro-democracy vigil in South Korea

    Thousands of supporters of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP) on Saturday gathered in the South Korean city of Gwangju to hold a candlelight demonstration calling for the “liberation” of democracy in Cambodia. Yim Sinorn, a CNRP member in South Korea, said on

  • US Embassy: Chinese trade does not help like the West’s

    The US Embassy in Phnom Penh on Friday said relations between China and Cambodia did not create jobs or help industry when compared to the trade between the Kingdom and the US. “About 87 per cent of trade [with China] are Chinese imports, which do not

  • New airport study set for 2019

    A feasibility study on the construction of a new airport in the Kingdom will be launched later this year, according to a Ministry of Tourism spokesman on Monday. The plan was approved last week in a meeting held by the Ministry of Economy and Finance