Cambodia’s Stock Market to be Opened Late This Year
February 4, 2010 AKP
Cambodia’s securities and stock market will be in place by the third quarter or
late this year, Chinese News Agency Xinhua quoted Ming Bankosal, director general of
the Securities and Exchange Commission of Cambodia (SECC) as saying on Wednesday.
“The opening of the stock exchange is not only depends on the SECC side, it also
depends on the issuing companies,” Ming Bankosal said.
“We expect that by the third quarter of this year or by late this year we will have a
stock trading in Cambodia,” he said in the interview.
“When we have stock exchange we can share the economic growth to the
Cambodian people and the government can collect more taxes as well as to create more
jobs,” he said.
“And then transparency comes to Cambodia and international investors will see
Cambodia changing to international standard.”
“Now we are ready and waiting for the companies to prepare themselves with all
“So when they are ready with our requirements, they can issue the shares to the
public. Then we will have the trading officially,” he said.
“So the game is not only depends on the government side, it also depends on the
private sector who wants to list,” said Ming Bankosal.
The country’s Securities and Exchange Commission of Cambodia (SECC) has
opened Jan.15, 2010 for companies which wanted to operate as dealers, investment
advisors, brokers or underwriters to submit their applications till March 1, 2010.
Applicants must meet capital requirement along with human resource, he
explained. “This is a very technical field… we need experienced people in the field.”
Ming Bankosal wishes not to reveal the number of companies which have applied
to be listed on the stock market, but said that there are a number of local and joint venture
companies with foreign partners also showing their interest.
“Other foreign companies who operating their businesses here shown their
interests to go public,” he added.
“We will then review