Phnom Penh SEZ Plc announced shareholder approval for the issuance of 14 million shares to be sold to Thai-listed logistics provider JWD InfoLogistics and Singaporean logistics management firm Bok Seng Group at its Extraordinary General Meeting on Friday, according to a recent press release.

Lim Chhiv Ho, chairwoman of Phnom Penh SEZ, said the decision was in line with the SEZ’s commitment to increase non-land sales revenue by 50 percent by the year 2020.

Ardisak Boeprasert, investor relations manager and disclosure officer of the Phnom Penh SEZ, said proceeds from the sale – the value of which was not immediately disclosed – would go toward infrastructure development and rental-warehouse projects.