Logo of Phnom Penh Post newspaper Phnom Penh Post - Par for the bourse

Par for the bourse

Par for the bourse

The Securities and Exchange Commission of Cambodia has issued licences to at least five firms to act as brokers, dealers and underwriters on the Kingdom’s upcoming bourse.

At least three Cambodian banks and two investment banks have confirmed they have been permitted to act on the exchange, which is scheduled launch in July 2011 “at all costs” after being twice delayed, according to the Ministry of Economy and Finance.

Tong Yang Investment Bank chief representative Han Kyung Tae said the firm was preparing to act as an underwriter on the bourse. Underwriters would be authorised to trade, as well as provide advice on issuing securities and facilitate public offerings on the exchange.

“We’re happy with the licence and now we’re working closely with a few potential companies which are preparing for initial public offering,” he said.

ACLEDA Bank has been licensed as a brokerage business, according to Vice President and head of capital market division Svay Hay.

“We have been preparing ourselves for this. Ten staff who are consultants, and senior staff and bank experts will be in charge of this service.”

The firm has been building up experience by conducting its own internal stock market since 2006 to sell shares to its own staff, he said.

OSK Indochina Securities Limited announced it had been granted a licence by the Cambodian stock exchange to act as an underwriter, broker and trader, in a statement filed on the Bursa Malaysia exchange on Friday.

Japanese-owned SBI Phnom Penh Securities Company – the 40 percent owner of Phnom Penh Commercial Bank Limited – announced it had been granted a licence to operate as an underwriter as well as a broker and trader in a release Friday. Canadia Bank has also been granted a permit to act as an underwriter, broker and trader, according to deputy general manager Charles Vann.

MOST VIEWED

  • Construction begins on $1.5B Kampot seaport

    The International Multi-Purpose Logistics and Port Centre, principally invested by Kampot Logistics and Port Co Ltd and projected to cost $1.5 billion, has officially broken ground in Bokor town, Kampot province. The multi-purpose logistics and port centre, located in Prek Tnaot commune, will be built on

  • Cambodia eyes key role in electronics, auto hubs in SEA

    Two roadmaps, part of the LDC’s economic diversification plan, were designed to see it through its migration process, but experts say the journey might be arduous, particularly in the presence of two established hubs in the region By 2028, Cambodia hopes to have exited the

  • Hun Neng, lawmaker and PM’s brother, passes away aged 72

    Hun Neng, chairman of the 4th Commission of the National Assembly, has passed away from heart disease at the age of 72 on the afternoon of May 5, according to the Ministry of Information. Hun Neng is the older brother of Prime Minister Hun Sen, and was

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • PM meets with US business giants

    Prime Minister Hun Sen has met with a number of major US companies who have expressed interest in investing in Cambodia, in a meeting convened by the US-ASEAN Business Council (US-ABC). A delegation of companies – including Amazon, Meta, Chevron, ConocoPhillips, ExxonMobil, Ford, Visa and Pernod

  • CCC team off on US business trip

    The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with