Securities and telecommunications regulators sign memorandum of understanding for CSX listings

The Securities and Exchange Regulator of Cambodia (SERC) and the Telecommunications Regulator of Cambodia (TRC) have signed a Memorandum of Understanding on cooperation in raising awareness and exchanging information related to the securities industry and of telecommunications in the Kingdom, in particular to attract investors from the sector for listing.

The MoU, which was signed on June 10, aims to enhance cooperation in information exchange and promote the development of the securities and telecommunications industry in Cambodia.

SERC Managing Director Sou Socheat told The Post on June 12 that the agreement was the latest development regarding cooperation with the TRC, to unite to attract more telecom industry investors to become audience.

“The MoU aims to share information and promote to companies under the telecommunications regulator the list to follow. We will organize trainings and seminars for the targeted companies,” he said.

Economy and Finance Minister Aun Pornmoniroth said in mid-May that Cambodia was encouraging private companies to list on the stock exchange, with the government offering tax incentives.

“The Cambodian government has provided income tax incentives and incentives to all companies that register their companies,” he said.

TRC data showed that in April Cambodia had 44 internet service providers (ISPs), five mobile operators, six landline operators, two international gateways, 10 voice over internet protocol (VoIP) providers , a satellite company, two telecommunications tower companies, two submarine cable companies, three fiber optic companies, a value-added network (VAN) and a toll-free number provider.

A total of 16 companies are listed on the Cambodia Securities Exchange (CSX) – nine companies have issued shares in the Main Board and the Growth Board – and seven companies have listed their bonds.

Total market capitalization at the end of the first quarter ended March 31 was approximately $2.14 billion and total trading volume was 13,402,060 shares, of which the primary board accounted for 82% and the secondary growth board 18%.

On February 10, JS Land Plc became the last company to go public, after completing its initial public offering (IPO) on the Growth Board. Although its shares were priced at 1,900 riels ($0.46), the stock opened the day at 2,220 riels.