Investors, along with the next two companies expected to list on the Cambodia Securities Exchange, will watch carefully this morning the action on the country’s first initial public offering, nine months after the CSX officially opened.
After a book-building process that was 17 times over-subscribed, Phnom Penh Water Supply Authority shares will sell at about a penny below the maximum bidding price originally set by the Securities and Exchange Commission of Cambodia.
PPWSA was valued at 6,300 riel, or US$1.57, a share in late March, and 514 investors bought 474,143 shares during book-building.
Investor behaviour today would have a significant impact on the listing of Telecom Cambodiaand Sihanoukville Autonomous Port, the two state-owned companies also expected to list this year, Tong Yang Securities (Cambodia) managing director Han Kyung-tae said.
Tong Yang is the underwriter for PPWSA and Telecom Cambodia. …