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Acleda Bank hosts workshop on its plans for IPO

2020-01-11
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Summary:Acleda Bank Plc, the biggest commercial bank in Cambodia, on Friday held the first workshop on the process of its plans for the initial public offering (IPO) in the Kingdom of Cambodia.

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In Channy, Acleda Bank president and group managing director, said that the workshop is to inform the public and potential investors to know about the process of Acleda Bank’s IPO for first time.

“Now, Acleda Bank Plc is in the process of issuance of IPO, so we have to promote to the public and investors to be aware of this process and for those investors and public who want to invest with Acleda in the stock market,” In said.

“The growth of Acleda Bank is stemming from partners, customers and the country’s economy. Thus, we are preparing to list shares on the Cambodia Securities Exchange (CSX),” he added.

On November 26, 2019, ACLEDA Bank Plc. received an official letter from the National Bank of Cambodia (NBC), allowing the Bank to proceed with its plans for the initial public offering (IPO) in the Kingdom of Cambodia.

ACLEDA Bank Plc. will be the first commercial bank in the Kingdom of Cambodia to list its shares on the Cambodia Securities Exchange (CSX). The IPO will mark a new chapter of ACLEDA Bank’s success story.

In said that, “We just received an official letter from the NBC to proceed to the next stage of the IPO process with the Securities and Exchange Commission of Cambodia (SECC)”.

“On this occasion, we would like to inform our customers and the public that ACLEDA Bank Plc.’s shares will be available for investment after getting further approvals from the CSX and the SECC. We will make public announcements on the date of Book Building and Subscription soon. This will be a unique opportunity for the public to become shareholders of ACLEDA Bank Plc.” In added.

“Our goal is collect the fund to expand on the digital infrastructure of the bank, so we have to expand, develop and update constantly the bank’s digital infrastructure to serve the customers locally, regionally and internationally,” Mr In said.

“We plan four workshops on Acleda Bank PLC going IPO,” he said.

“We have received the approval from the National Bank of Cambodia to issue the IPO, and approval in principle from the Cambodia Securities Exchange, but we have to wait for the approval from the Securities and Exchange Commission of Cambodia (SECC) for the final approval,” In added. Source from Khmertimes.

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