PPSEZ to Make Final Preparations for IPO

The Phnom Penh Special Ec­o­nomic Zone (PPSEZ) was given clearance on Wednesday to begin final preparations for listing on the country’s stock exchange, according to a statement released by the Securities and Exchange Com­­mission of Cambodia (SECC).

“Af­ter a meeting on both the technical and policy issues, it has been decided to approve in principle the company’s request for an initial public offering,” said the statement re­leased late last week. “PPSEZ would now need to pursue book-building and undertake further legal procedures for an official listing.”

The book-building process will set the final number of shares and initial prices for listing, which would require a final clearance from the SECC.

PPSEZ operates the 357-hectare industrial park just outside the capital and intends to issue 11.6 million shares—20 percent of the company’s value—to support expansion plans and debt repayments, according to a statement published on the firm’s website in December.

The special economic zone would become the fourth stock listed on the country’s nas­cent securities exchange.

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