Telecom Cambodia IPO expected by mid-2013

Cambodia’s state-owned fixed line incumbent Telecom Cambodia is likely to float its shares on the country’s fledgling stock market by June next year, the Wall Street Journal cites chief executive of the Cambodia Securities Exchange (CSX), Hong Sok Hour, as saying. The CSX was originally planned to open on 9 September 2009, but delays in passing necessary legislation meant that the soft launch did not actually take place until July 2011. Telecom Cambodia and two other state-owned firms – Phnom Penh Water Supply Authority (PPWSA) and Sihanoukville Autonomous Port – were instructed to prepare for an initial public offering (IPO), although so far PPWSA is the only company to have listed its shares on the CSX since it was launched. Telecom Cambodia and Sihanoukville Autonomous Port were originally scheduled to list by the end of 2012, but according to Hong were unable to meet listing requirements in time, and both are now expected to launch IPOs by mid-2013.