Yuanta Securities Cambodia managing director Han Kyung-tae, CSX CEO Hong Sokhour, CSX chairman Hean Sahib, Acleda President and Group Managing Director In Channy, Minister of Economy and Finance of Cambodia Aun Pornmoniroth, National Bank of Cambodia Deputy Gov. Neav Chanthana, Securities and Exchange Commission of Cambodia Director General Sou Socheat (from left) celebrate the listing of Acleda Bank on Monday. (The Korea Exchange)
Acleda Bank, the biggest commercial bank in Cambodia, said Monday it was listed on the Cambodia Securities Exchange in which the Korea Exchange (KRX) has invested.
The Cambodian bank had assets of $6.18 billion as of the end of last year. Its market capitalization marked $1.75 billion -- nearly three times that of five listed firms in the country.
Since the large-cap stock went public, the lackluster Cambodian stock market is expected to be revitalized by attracting new local and foreign investors, according to KRX.
KRX and the Cambodian government are joint operators of the stock exchange. In 2010, the KRX invested $9 million and the rest, $11 million, by the local government.
By Jie Ye-eun (firstname.lastname@example.org)