[PHNOM PENH POST]
SBI Phnom Penh Securities Co Ltd and Cambodian Capital Securities Co Ltd
have signed agreements to combine their Cambodia operations, the
companies said yesterday.
SBI Phnom Penh is unit of Japanese SBI
Holdings and a licensed underwriter in Cambodia. Cambodian Capital, a
joint venture between Royal Group and Lotus Capital, is a licensed
brokerage firm, as well as a corporate advisory firm in the Kingdom.
“The
combination creates a platform that is able to provide clients with
world class investment banking services in Cambodia, including corporate
finance advisory, equity capital market advisory, underwriting,
brokerage and institutional research,” the companies said in a
statement.
Transactions for the combined company, SBI Royal
Securities Co Ltd, are expected to close no later than November,
Eiichiro So at SBIPP said yesterday.
No financial details of the deal were given by either SBIPP or Cambodia Capital.
The newly formed company plans to launch a private equity fund of up to US$50 million by the end of the year, Eiichiro So said.
The
fund, seeded by parent companies Royal Group of Companies and SBI
Holdings, will focus on investment in Cambodian telecoms and mobile
companies, he said.
The two merging companies’ experience in
business operations will differentiate itself from other private equity
funds in the country, he said.
“We are not only an investment company, we are also an operating company,” Eiichiro So said.
“We would like to make business through the fund using knowhow from Japan.”
The
combination will help the two companies more effectively capitalise on
investment in the Kingdom, Yoshitaka Kitao, founder and CEO of SBI
Holdings, said in a statement yesterday.
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