Golden Tree Leads the Way in Cambodia’s Sustainable Finance Market with Maiden $1.5M Green Bond Listing
4 days ago

Golden Tree official bond listing was held on January 19th, 2023, at the CSX building in Phnom Penh.

Golden Tree, one of the leading real estate companies in Cambodia has successfully raised over $1.5 million through the green bond issuance, which plays a crucial role in contributing to the Cambodian government’s mission to become more environmentally friendly while promoting sustainable economic growth.

According to Mr. Oum David, Executive Vice President and Chief Financial Officer of Golden Tree, introducing green bonds to Cambodia will boost the company’s reputation and attract more local and international investors. It is an opportunity for Golden Tree to expand its business while enhancing the growth of the sustainable finance sector in the kingdom.

The company successfully mobilized around $1.5 million from the issuance of its approximately 60,000 green bonds at par value of $25, with a coupon rate of 7 percent per annum and a 5-year maturity date. The bond was underwritten by SBI Royal Securities Plc, with Cambodia Securities Plc as co-underwriter.
Strengthening corporate governance and transparency

H.E Hong Sok Hour, CEO of CSX, commented that the listing of the green bond is comparable to other bond listings. However, the green bond issuance is required to adhere to investment guidelines that leave no harm to the environment. “The green bond listed today reflects the securities sector’s contribution for the positive environment and climate change,” he said.

The local bourse has featured 18 firms, nine of which are listed on the main and growth board, the rest issued bonds. These companies raised over $317 million through their offerings.

Golden Tree’s green bond issuance has received technical support from the Asian Development Bank (ADB) to issue and comply with the standard of ASEAN Green Bond.
In full: https://cambodiainvestmentreview.com/20 ... d-listing/

Three firms aim for Q1 listing on CSX: CEO
May Kunmakara | Publication date 24 January 2023 | 21:30 ICT

Three private companies aim to list in the Cambodia Securities Exchange (CSX) in the first quarter (Q1) ending March 31, in a testament to the growth of the local stock market, which is becoming increasingly evident to the public as a viable source of capital for businesses to expand, according to CSX CEO Hong Sok Hour.

Speaking to The Post on January 24, Sok Hour commented that the locally-owned educational enterprise Mengly J Quach Education Plc (MJQE) is preparing to launch an initial public offering (IPO), while the two other companies plan to issue corporate bonds.

He declined to name the bond issuers, but confirmed that one is a telecommunications company and the other a financial firm.

The three securities will be issued “soon”, he assured, adding that, in the future, “we expect to attract large companies to issue equity or corporate or green [debt] securities to raise additional funds to expand their business”.

Earlier this month, Sok Hour confirmed that MJQE had begun submitting the requisite documents for a listing eligibility review, and planned to finish doing so before the end of January.
https://www.phnompenhpost.com/business/ ... ng-csx-ceo

And the name of the communications group that is lining up to join the CSX is... (suspense)

CamGSM lining up IPO on Cambodia Securities Exchange
James Barton
05 April 2023
CamGSM, which operates as Cellcard, has had its application to list on the Cambodian stock exchange approved in principle by the Cambodia Securities Exchange (CSX).

Before the public offering can go ahead, CamGSM must meet additional conditions of the CSX and receive approval from the Securities and Exchange Regulator of Cambodia (SERC). Speaking to The Phnom Penh Post, CSX CEO Hong Sok said that if these final approvals are obtained, CamGSM’s initial public offering (IPO) is likely to go ahead next month.

CamGSM was founded in April 1996, with TeleGeography noting that the unit was initially a joint venture between Millicom International Cellular (MIC) and the Royal Group of Cambodia. Millicom agreed to a buyout in August 2009, selling its 58.4% holding to its partner for US$346 million, and leaving the Royal Group with complete control over the unit. It is currently the third largest player in Cambodia based on subscribers, with a market share of almost 18% at the end of 2022.
https://developingtelecoms.com/telecom- ... hange.html

^^ More on the above topic:

CamGSM set to list on Cambodia Securities Exchange
James Barton
18 May 2023
Cambodian operator CamGSM has confirmed that it will proceed with listing on the Cambodia Securities Exchange (CSX) after receiving approval in principle in April.

The operator, which provides services as Cellcard, plans to issue over 52.87 million shares, each priced at KHR2,270 (US$0.57) with a minimum subscription of KHR400,000. Local outlet The Phnom Penh Post reported that interested parties would be able to subscribe to the initial public offering between 2nd and 31st May.

Active Cellcard subscribers who purchase enough shares to become Class A shareholders will be guaranteed a dividend of 7% per annum for the first five years. CamGSM’s estimated market capitalisation is US$1.14 billion.

CamGSM was founded in April 1996, and was initially a joint venture between Millicom International Cellular (MIC) and the Royal Group of Cambodia. In August 2009, the latter firm bought out its partner for US$346 million, acquiring MIC’s 58.4% stake in the unit to take its shareholding to 100%. CamGSM had a 17.9% market share at the end of 2022, putting it in third place.
https://developingtelecoms.com/telecom- ... hange.html

CSX launches programme for SMEs and new ventures
May Kunmakara | Publication date 10 October 2023 | 20:51 ICT
hebergeur image forum
The Cambodia Securities Exchange (CSX) has joined with securities firms to introduce the “Small and Medium-sized Enterprises (SMEs) and Startups Go Public Programme”. The initiative is geared towards accelerating stock market development, attracting foreign investors and boosting investment confidence.

Hong Sok Hour, the CEO of CXS, said during the launch that the initiative reflects the bourse’s efforts, in partnership with stakeholders, to propel the stock market’s growth. He noted that it paves the way for a broader engagement with foreign investors and enhances trust, especially for prospective firms keen on raising funds through equity and debt securities in the capital market.
...
Data from the Securities and Exchange Regulator of Cambodia (SERC) show that since the capital market’s inception, 20 companies have made their mark on CSX.
Of these, 11 have floated equity securities – with nine on the main board catering to large enterprises and two on the growth board aimed at SMEs. The remaining nine released corporate bonds.
https://www.phnompenhpost.com/business/ ... w-ventures