SBI Phnom Penh Securities Co, Ltd. has been
appointed by the Ministry of Economy and Finance of Cambodia to lead
manage an initial public offering of Cambodia's state-owned
Sihanoukville Autonomous Port ("PAS"), the company said in a press
release.
The IPO will be launched when the stock exchange becomes operational,
expected to be this summer. It is the first time a Japanese-backed
company has been involved in a Cambodian IPO.
As a lead managing underwriter for the IPO, SBI will
contribute to the growth of the Cambodian capital market through
assisting PAS in its listing, and will also conduct sales of the
underwritten stocks in Japan in conjunction with subsidiary SBI
Securities Co, the company added.
With a gross throughput of 1.87m tonnes,
Sihanoukville's main business is defined as the development and
management of Sihanoukville's Special Economic Zone which includes
Cambodia's only deepwater international port. The port is one of three
major state companies that the government is planning to list,
reportedly in the course of this year.
The SBI Group established the Phnom Penh Commercial Bank Limited in
September 2008 with its investment of 40% of the bank’s shares, and will
now endeavor to contribute to Cambodia’s economic development in both
the banking and securities sectors. The SBI Group will continue the
overseas development of its financial service businesses, primarily in
the Asian emerging countries.
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