Cambodia’s stock market marks a milestone amid crisis

Local bank's IPO is set to triple total market cap despite COVID-19 impact.

After languishing for years with fewer than half a dozen listed companies, the Cambodia Securities Exchange is set for a “game changing” IPO by one of the country’s largest domestic banks.

Acleda, Cambodia’s biggest lender by gross loan portfolio, will become the sixth company to trade equity on the small bourse when it lists in May or early June, and only the third non state-owned firm.

The bank — which has decided to push ahead with its listing despite the COVID-19 pandemic — will be the exchange’s first financial institution and is set to triple the CSX’s market capitalization, which hovered around $600 million in April.

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