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Taiwanese company joins Cambodian stock market

June 16, 2014

A Taiwanese-owned company joined Cambodia's stock market Monday, making it the second listed company trading on the Cambodian Security Exchange since 2012.

Hean Sahib, chairman of the CSX council, said at the listing ceremony that Grand Twins International (Cambodia), a Taiwanese-owned garment maker for U.S. sporting brands Reebok and Adidas, became the second listed company after Phnom Penh Water Supply Authority, a state-run enterprise that was listed in 2012.

With this new listing, he said, stock trading activities will be increased in Cambodia.

Speaking at the ceremony, Liao Chung Te, GTI's chief executive, said his company sold eight million shares of the firm's 40 million shares, with the price of $2.41 per share.

In 2006, Cambodia signed a memorandum of understanding with South Korea for establishment of the Cambodia Securities Exchange, but it was not launched until July 2011, and trading only began in April 2012.

When trading began, Phnom Penh Water Supply Authority issued 13 million shares -- 15 percent of the company -- at $1.57 a share.

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Source: Japan Economic Newswire

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