PESTECH Listed in Cambodia Stock Market
AKP Phnom Penh, August 12, 2020 —
PESTECH (Cambodia) Plc., a subsidiary of Malaysia-based PESTECH International Bhd, listed today its Initial Public Offering (IPO) on the Cambodia Securities Exchange (CSX), becoming the 13th securities-listed company in Cambodia.
The official listing ceremony was held in the presence of H.E. Sou Socheat, Director-General of Securities and Exchange Commission of Cambodia (SECC), and H.E. Hong Sok Hour, CEO of CSX.
PESTECH (Cambodia) is the 13th securities-listed company on the CSX, having a total number of listed shares of 74,945,000 with the IPO price of 3,120 Riel (US$0.76) per share and the stock symbol of “PEPC”.
The total gross proceeds from the IPO amount to approximately US$3 million (12.308 million Riel).
H.E. Hong Sok Hour welcomed the firm to issue stock in the market so that the firm can raise more funds via issuance of more shares on the bourse.
“With listing at the CSX, the firm can raise fund from issuing shares to expand business operation and can earn strongly confidence from potential investors both local and foreigners,” H.E. Hong Sok Hour said.
“For investors, the PESTEC listing on the CSX provides more options of investment in the stock market over the existing listed firms for investment and those investors can have chances to invest in the listed company like PESTEC that grows fast in business,” he added.
PESTECH (Cambodia), operating in the Kingdom since 2010, has built some of the largest and important electrical transmission infrastructures, including the 110-kilometre line connecting Phnom Penh-Kampong Cham, the 125-kilometre line connecting Kampong Cham-Kratie and one of the 500-kilovolt (kV) transmission lines in Cambodia for the 190-kilometre Phnom Penh-Sihanoukville transmission line which was commissioned in January 2020.
As of Aug. 12, there are 13 listed firms in the Kingdom – seven stock-listed and six corporate bond-listed.
By Chea Vannak