At the recent Cellcard (CAMGSM Plc.) listing on the Cambodia Securities Exchange (CSX) in June 2023, B2B Cambodia caught up with H.E. Hong Sok Hour, CEO of CSX to discuss his hopes for the growth of the exchange.
Following the successful listing of Cellcard on the CSX, which was among the biggest to date, the CEO of the Cambodia Securities Exchange stressed the importance of the occasion.
“It’s another milestone we can be proud of by adding a billion-dollar company, and the second billion-dollar company to CSX,” he said. “I’ve been optimistic about this market even though we are small but we are growing and it’s increasingly active and seeing more trading volume.”
He acknowledged that education and raising awareness of CSX is key; “We have been engaged with training since 2012, and for the first five years it was difficult to attract members to join, but since 2018 the market interest has grown.”
He added, “The Securities and Exchange Regulator of Cambodia (SERC) has joined us on campaigns and providing training sessions to promote the exchange. I know it’s not enough yet but we don’t give up and we will continue.”
With the recent listing of Cellcard and the private school operator Mengly J Quach Education Plc debuting on CSX following their IPOs, will we see more companies list and what should they do to prepare for listing on CSX? The addition of the two companies increased the total to 11 equity-listed firms, a further nine corporate bond firms listed.
Hong Sok Hour told us that for a company to list on the CSX, it could take a few months or a few years to be ready but he encourages companies to look at corporate governance so that when they are ready to list, they will be better prepared.
What Was Said About The Cellcard CSX Listing
HE Dr Hean Sahib, Secretary of State of Ministry of Economy and Finance and Chairman of CSX added that for perspective, the Royal Cambodian Government has since 2011 introduced many measures to attract foreign investment.
H.E. Sou Socheat, Delegate of the Royal Government in charge as Director-General of the Securities and Exchange Regulator of Cambodia (SERC) showed that the listing was evidence of the steps forward even if its slow and steady progress, its progress.
H.E. Hong Sok Hour, CEO of Cambodia Securities Exchange, discussed his hopes for the growth of trades on CSX and that “the market in the future will grow even stronger. I have this huge ambition of having an average daily rate of $100 million by 2030.”
Mr Christopher Donald Tiffin (Group Chief CEO) said the “listing of Cellcard reflects on the strong performance and growth potential of Cellcard.”