Phnom Penh Post - Mengly J Quach Education holds first IPO roadshow

Mengly J Quach Education Plc (MJQE) – one of the leading private educational institutions in Cambodia – held its first initial public offering (IPO) roadshow at the Sofitel Phnom Penh Phokeethra hotel on April 19.

The inaugural event was presided over by Securities and Exchange Regulator of Cambodia (SERC) Director-General HE Sou Socheat, Cambodia Securities Exchange (CSX) CEO HE Hong Sok Hour, and Neak Oknha Dr Mengly J Quach – the Founder, Chairman and CEO of MJQE – with many distinguished guests in attendance.

Neak Oknha Dr Mengly J Quach told those present that as part of its clear plans and long-term vision, MJQE had made a request to the SERC for the official listing of the company's securities.

And he called on members of the public, particularly the parents of students, to purchase MJQE shares to help strengthen and expand the Cambodian education sector.

MJQE's continued success over the years has contributed to its entry onto the Cambodian stock market, with the IPO open to general investors and intended to raise $10 million to establish further schools.

The public subscription process began on April 10, 2023, and concludes on June 9, with MJQE set to officially join the CSX on June 28, subject to prior approval from the SERC.

With IPO Proceeds of $10,000,000 and a Guaranteed Dividend of six per cent for two years, 19,606,600 shares – 5.88 per cent of total company shares – are to be issued, at a price of 2,080 riel ($0.51) per share.

MJQE currently has a total of 15 campuses in the capital and across the provinces, with over 20,000 students, 2,149 employees and more than 50,000 alumni studying and working around the world.

The company is set to open in more locations in the academic year 2023-2024, with campuses in Phnom Penh's Sen Sok and ChbarAmpov districts, as well as Kampong Cham, Takeo and Battambang provinces.