Prasac Microfinance Institution Ltd (Prasac) successfully raised $31.8 million from a corporate bond subscription, a move to list on the nascent Cambodia Securities Exchange (CSX) on May 5.
It is set to become the second financial institution to list on the bourse during the spread of the Covid-19 pandemic after South Korea-owned Phnom Penh Commercial Bank Plc (PPCBank) listed last week.
Prasac will issue 1,272,000 shares for the public offering with a total issue amount of 127.2 billion riel ($31.8 million). The bond is fully guaranteed by a trust fund from the Asian Development Bank and the Credit Guarantee and Investment Facility (CGIF).
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