The firm operating the opposition CNRP’s new television station will this month begin selling 3,000 shares to raise funds for its operations, a senator advising the station said Sunday.
“For the share sales, we have reason to believe we can start at the beginning of this month, when [opposition leader] Sam Rainsy goes to America,” Sam Rainsy Party Senator Hong Sok Hour said.
“In Cambodia, we will also set up an office to collect all the shareholders who want to buy them.”
The firm plans to raise $3 million by pricing each share at $1,000. Mr. Sok Hour said meetings held today and Tuesday would decide the rights shareholders will get, as well as which day the shares will go on sale.
“They will have the right to vote and other things. I can tell you later. We will have two kinds of shareholders, but we have not decided yet about who will be able to vote and not vote,” he said.
The CNRP plans to launch its station, which will be the first aligned with the opposition, by the end of the year.