July 11, 2011

Cambodia to Start Stock Exchange, Aiming for December Opening

[San Francisco Chronicle]

July 11 (Bloomberg) -- South Korea's stock exchange and Cambodia have formed a joint venture that is aiming to open a stock market in the Southeast Asian country in December.

The Cambodian government will hold a 55 percent stake in Cambodia Securities Exchange Co., while Korea Exchange Inc. will own the remainder, the South Korean bourse operator said in an e-mailed statement today.

The Korean company will provide information-technology systems in return for the stake, while Cambodia will offer the site and building for the bourse, today's statement said. The venture's board will be comprised of four people from Cambodia and three from Korea Exchange, the statement said.

Korea Exchange this year also helped Laos, Southeast Asia's smallest economy, open its stock market. The Lao Securities Exchange is 51 percent owned by the Laotian government and 49 percent held by Korea Exchange.

No comments:

Post a Comment