Mobile network operator CamGSM (Cellcard) will list its sustainable bond in the Cambodia Securities Exchange (CSX) in November, following its equity listing made in June this year, according to the Securities and Exchange Regular of Cambodia (SERC).
“As CamGSM was given in-principle approval to list its sustainable bond on October 24, the company will list it in the securities market in November,” SERC Director General Sou Socheat said at a workshop on ‘Sustainable Financing’ on Monday.
CamGSM listed its Class A common stock on CSX on June 27, 2023.
SERC, meanwhile, worked with the Global Green Growth Institute (GGGI) under a project called the ‘Cambodia Sustainable Bond Accelerator Program.’
In March, the UN Economic and Social Commission for Asia and the Pacific (UNESCAP), GGGI and SERC, in collaboration with the Credit Guarantee and Investment Facility (CGIF) – a component of the Private Infrastructure Development Group (PIDG) – launched the Cambodia Sustainable Bond Accelerator.
The initiative selected three private sector bond issuers – Golden Tree, Amret Plc and the Royal Group Phnom Penh Special Economic Zone (PPSEZ). These companies are set to receive support for green and sustainability bond issuances this year.
Through this project, SERC expects three companies to issue sustainable bonds by the end of 2023 or in 2024, Socheat said.
Hong Sok Hour, CEO of CSX said it plays an important role in providing sustainable financing and will continue to support the Strategic Plan for Green Development 2013-2030 in developing sustainable financing to boost Cambodia’s green economy with low carbon emissions and climate resilience through the efficient use of natural resources.
CSX has so far listed 20 companies, including 11 equity firms and nine corporate bond firms, collecting a total capital of more than $330 million.
To date, some 44,000 investors have also opened trading accounts with CSX, he said.
Launched in 2012, CSX is a joint venture between the Cambodian government holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent.
Source: Khmer Times