[VIETNAM NET]
Cambodia-Vietnam Securities Co (CVS) has become first
Vietnamese joint venture securities firm to make its debut in Cambodian
capital of Phnom Penh.
The debut of the company with a chartered capital of $10
million has taken place on the sideline of Vietnam-Cambodia Investment
Promotion Conference under the chair of the prime ministers of the two
countries.
CVS was established by founding shareholders such as Bank for
Investment and Development of Cambodia (BIDC), Cambodia Development and
Investment Joint Stock Co (IDCC), Bank for Investment and Development of
Vietnam (BIDV), Cambodia-Vietnam Insurance Joint Stock Co (CVI) and
BIDV Securities Co (BSC).
CVS was licensed with full ranges of securities operations in
Cambodia such as investment consultancy, securities brokerage, corporate
financial consultancy, issuing underwriting and investment bank
operation.
Earlier, BIDV also contributed capital to set up other
companies such as Cambodia Development and Investment Joint Stock Co
(IDCC), Bank for Investment and Development of Cambodia (BIDC) and
Cambodia-Vietnam Insurance Joint Stock Co (CVI).
IDCC has also been selected to be settlement bank for Cambodian stock market by Cambodian Securities Commission.
Dong Duong Securities Co (DDS) has also been granted the
license for making capital contribution to establish the Angkor VDS
Securities Plc, second Vietnamese joint venture securities firm, in the
capital city of Phnom Penh.
Angkor VDS Securities PLC has a charter capital of $2 million,
to which $400,000 and $300,000 were contributed by DDS and Song Ngan
Joint Stock Co, and the remaining by foreign partners.
This is the first securities company to be allowed for
operating in Cambodia in the fields of investment consultancy, IPO
consulting, listing and issuing shares on the stock markets, enterprise
re-structuring, M&A, stock investment by Cambodian Securities
Commission.
The Cambodia Stock Exchange was expected to officially operate in July this year.
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