Malaysian power technology provider becomes seventh firm listed on Cambodia's bourse


  • AseanPlus News
  • Thursday, 13 Aug 2020

Executive Chairman of Pestech (Cambodia) Paul Lim.- The Star/ANN

PHNOM PENH (Xinhua): Pestech (Cambodia), a local subsidiary of Malaysian Pestech International Berhad, made its debut on the Cambodia Securities Exchange (CSX) on Wednesday (Aug 12) after an initial public offering (IPO) raised about US$3 million.

The power technology firm, which has built electrical substations and transmission lines in Cambodia since 2010, became the seventh equity-listed firm that issued its IPO on the kingdom's bourse.

The firm sold 3,945,000 shares, or 5.26 per cent of its total shares, at the price of 3,120 riels ($0.76) per share, Executive Chairman of Pestech (Cambodia) Paul Lim said.

CSX's chief executive officer Hong Sok Hour said it was a new milestone for the CSX and that the firm would be a new product for investors in the bourse.

"This clearly reflects the confidence of investors in the CSX," he said at the listing event.

"We hope that this new listed firm will help further boost securities trading in the CSX."

Sok Hour said the CSX has so far received a total of 13 listed companies, including seven equity firms and six corporate bond firms.

He added that the 13 firms had collected a total capital of more than $243 million from the securities market.

The CSX, which launched trading in 2012, is a joint venture between the Cambodian government holding 55 per cent of the stakes and the Korean Exchange owning the remaining 45 per cent.

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