- Title: CAMBODIA: Cambodia's stock exchange starts trading its first shares.
- Date: 19th April 2012
- Summary: PHNOM PENH, CAMBODIA (APRIL 18, 2012) (REUTERS) ***CONTAINS FLASH PHOTOGRAPHY*** EXTERIOR OF CANADIA BANK, VENUE OF STOCK EXCHANGE OPENING CEREMONY MINISTER OF ECONOMY AND FINANCE MINISTER KEAT CHON ARRIVING INVESTORS SITTING IN THE TRADING ROOM MEDIA KEAT CHON AND SOUTH KOREAN DELEGATES PREPARING TO ANNOUNCE THE SHARE PRICE MINISTER OF ECONOMY AND FINANCE KEAT CHON SAYING "I ANNOUNCE THE FIRST STAGE OF TRADING ON THE STOCK EXCHANGE IN CAMBODIA'S HISTORY" DELEGATES CLAPPING MEDIA KEAT CHON HANDING CERTIFICATE TO DIRECTOR GENERAL OF CAMBODIA'S WATER SUPPLY EK SOKCHAN (SOUNDBITE) (Khmer) DIRECTOR GENERAL OF CAMBODIA'S WATER SUPPLY EK SOKCHAN, SAYING: "I am very happy that I can fulfill my duty under the guidelines from the government. This work is very difficult, we never have it before and we started from scratch, with my colleagues doing it while learning at the same time." PEOPLE WATCHING SHARE PRICE ON THE SCREEN INVESTORS LOOKING AT THE SHARE PRICE SHARE PRICE ON THE SCREEN (SOUNDBITE) (English) DIRECTOR OF SBI ROYAL SECURITIES, MORTEN KVAMMEN SAYING: "I think the risk you have is the risk you always have when you invest in the stock market, its basically a very very volatile market, there's obviously the risk that the price can go down, as well as up, and there's also a risk that you have limited liquidity, so even when you want to sell it may not be able to move large positions." INVESTORS TALKING TO EACH OTHER DURING THE COFFEE BREAK (SOUNDBITE) (Khmer) MANAGING DIRECTOR OF TONG YANG SECURITIES HAN KYUNG TAE, SAYING: "We are working on the second IPO which is Telecom Cambodia, we are looking at (selling stocks) sometime later this year." CAMBODIA SECURITY EXCHANGE ROOM
- Embargoed: 4th May 2012 13:00
- Keywords:
- Location: Cambodia, Cambodia
- Country: Cambodia
- Topics: Business,Economy
- Reuters ID: LVAMSAEGP97EBPU8BE8V382HRL0
- Story Text: Cambodia's stock market began trading for the first time on Wednesday (April 18).
The Phnom Penh Water Supply Authority (PPWSA) became the first firm to list, with its share price rising 50 percent from 6300 riels ($1.57 US dollars) a share during its first trading session.
The CSX (Cambodia Stock Exchange) was supposed to start trading in September 2009 but the launch was repeatedly delayed. It formally opened in July 2011, although there were no shares to trade.
General Director of Cambodia's Water Supply Ek Sokchan said he was proud to head the first company to list on the stock exchange, but said much work needed to be done.
"I am very happy that I can fulfill my duty under the guidelines from the government. This work is very difficult, we never have it before and we started from scratch, with my colleagues doing it while learning at the same time," he said.
Morten Kvammen, Director of SBI Royal Securities said there are high risks investing in the Cambodian stock exchange.
"I think the risk you have is the risk you always have when you invest in the stock market, its basically a very very volatile market, there's obviously the risk that the price can go down, as well as up, and there's also a risk that you have limited liquidity, so even when you want to sell it may not be able to move large positions," he said.
The government said more private companies are prepared to list this year, alongside two other state-owned firms Telecom Cambodia and Sihanoukville Autonomous Port.
"We are working on the second IPO which is Telecom Cambodia, we are looking at (selling stocks) sometime later this year," said Han Kyung Tae, managing director Tong Yang Securities.
The CSX is a joint venture between the Cambodian government and Korea Exchange, the operator in Seoul of Asia's fourth-largest bourse. - Copyright Holder: REUTERS
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