Markets in Cambodia cheer first bond issue

Long-awaited listing lifts local firms' hopes of following suit to raise funds.

The Cambodian financial markets have welcomed with gusto the first issue of a corporate bond in the country, with a Phnom Penh-based microfinance institution, Hattha Kaksekar, listing its bonds on the Cambodia Securities Exchange (CSX) on Dec 6.

The long-awaited listing sent hopes soaring among local companies that they too could issue bonds to raise funds, and it released some of the pent-up demand for investment instruments among investors.

The bond issue had been in the works since 2012 when the Cambodian government published a Financial Sector Development Strategy (FSDS) for the period 2011-2020 and beyond.

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