Bangkok-based RMA Group is considering listing its Cambodian food and beverage business, Express Food Group, on the Cambodia Securities Exchange, with a proposed IPO later this year.
RMA Cambodia, which runs businesses in the automotive, infrastructure, engineering and food services sectors, said plans were at a very initial stage, but the company was deciding how to go about the IPO process.
“We are working on this but not sure where to go yet. So it is too early to share with the public,” said Ngorn Saing, country manager of RMA Cambodia.
In an interview with the i>Post last week, Hong Sok Hour, CEO of CSX, said RMA Cambodia had shown intent to list its F&B company. This, he said, could be the third listing for the exchange this year, with the Phnom Penh Special Economic Zone and Sihanoukville Autonomous Port already working on the pre-IPO processes.
Sok Hour said nearly 10 companies were in the pipeline, but only these three were expected to go public this year.
“In total we have 10 companies in the pipeline but I don’t think all of them will be ready this year or next year. I expect two or three this year,” Sok Hour added.
The Express Food Group runs multiple fast-food chains in Phnom Penh and Siem Reap, including The Pizza Company, Swensen’s and Dairy Queen. The company, on its website, says it employs over 600 people.
EFG added UK’s Costa Coffee to its F&B portfolio in late 2012, with two locations across Phnom Penh.