'Big Bang' moment for Cambodian stock market

ONE of the world's youngest and smallest bourses, the Cambodia Securities Exchange (CSX), is breaking the shackles of the coronavirus with the recent listing of the country's largest commercial bank, as it moves ahead to implement a blueprint to develop its capital markets.

The event was ground-breaking because Acleda Bank Plc is not only the first local bank to list, but it is also the first private company to join the bourse which is dominated by five state-linked firms.

The vice-chairman and COO of the CSX, Jong Weon Ha, has described the listing as "a really big deal", "a game changer", and "a big moment".

Acleda Bank's president and group managing director, In Channy, declared that the bank's listing was a reflection of investor confidence in the financial institution and in the national economy, especially amid the Covid-19 pandemic. Cambodian Minister for the Economy and Finance, Aun Pornmoniroth, believes that the listing could serve as a "role model" for other banks and companies that were eager to list, or were hesitant about raising capital from the stock market. Cambodia has,…

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