Phnom Penh (FN), Jun. 27 – Cellcard, Cambodia’s only locally-owned telecommunications operator, has successfully completed its initial public offering (IPO) and listed its Class A common stock on the Cambodia Securities Exchange (CSX) on 27 June 2023.
The subscription result of 9,271,206 shares subscribed to by investors was approved by the Securities and Exchange Regulator of Cambodia (SERC) according to the approval letter number 1807/23 dated 20 June 2023. The announcement, including the complete list of successfully subscribed investors, was published on 20 June 2023.
IPO Proceeds will be invested in network coverage expansion, service quality enhancements, innovations development towards enhancing its customers’ digital lifestyles, and to prepare for the next technological wave such as 5G with network upgrades necessary to meet the growing demand for high-speed and low-latency connectivity.
Cellcard’s CEO Simon Perkins said that the IPO was a historic milestone for the company and for Cambodia’s capital market. He thanked all the stakeholders who supported the IPO, especially SBI Royal Securities Plc and Royal Group Securities Plc, the lead underwriter and co-underwriter, book runners and lead managers of the offering.
“Cellcard has been a key player in Cambodia’s development providing reliable and affordable communication services to millions of customers. As a brand, Cellcard stands for quality, innovation and social responsibility. As a service provider, Cellcard offers a wide range of products and solutions to meet the diverse needs of the Cambodian market. This year we are celebrating 26 years of service, and we look forward to contributing to Cambodia’s future growth and supporting the Royal Government’s vision for a Digital Economy. We are committed to delivering long-term value to our customers, centered around our renewed focus on network quality and performance, innovation and service excellence," said Simon Perkins.
Announcement of the company going public was released early April, with subscriptions commencing from 2 May 2023 – 7 Jun 2023. The IPO was considered Cambodia’s outstanding equity issuance transaction and has gained interest among local and international investors. Cellcard IPO roadshows were held in Phnom Penh, Siem Reap, Battambang, Sihanoukville, as well as internationally in Taiwan and Hong Kong.
“On behalf of our Chairman, Neak Oknha Kith Meng, I would like to welcome all the new Cellcard shareholders and express my gratitude for their trust and confidence in Cellcard’s vision and strategy. This is a new beginning for Cellcard, as we embark on a journey of innovation and growth. We have a clear roadmap to achieve our goals and deliver value to our customers, partners and stakeholders," Simon added.
MTS (Mobile Trading System) is a convenient and secure way for shareholders to trade their shares using the CSX App. The app allows shareholders to view their share portfolio and balance anytime, anywhere. Shareholders who are either Cellcard subscribers or non-resident are eligible for a 7% annual dividend, which will be paid quarterly for five years.
=FRESH NEWS
