PHNOM PENH, April 25 (Xinhua) -- The Sihanoukville Autonomous Port (PAS), Cambodia's largest state-run seaport, announced on Tuesday that it will list on the Cambodia Securities Exchange (CSX) on May 31.
The country's only deep seaport revealed the listing date during the launching ceremony of its initial public offering (IPOs).
According to its IPO plan, PAS will float a total of 21.44 million shares, or 25 percent of the company's shares, to raise between 18.8 million U.S. dollars and 27.8 million U.S. dollars to purchase an additional 52 hectares of land for container yard expansion and to buy new heavy machinery.
The price band of the bookbuild ranged from 0.88 U.S. dollars to 1.29 U.S. dollars per share.
PAS's chairman Lou Kim Chhun said that the port had made a net profit of 11.3 million U.S. dollars, 9.4 million U.S. dollars, and 7.8 million U.S. dollars in 2014, 2015 and 2016, respectively.
"Listing PAS on the CSX will make companies, especially transport firms and port users, have more confidence in the PAS," he said.
PAS is situated in Preah Sihanouk province, some 230 km southwest of Phnom Penh, capital of Cambodia.
Sou Socheat, director general of the Securities and Exchange Commission of Cambodia, said that PAS will be the fifth firm and the third state enterprise to list on the CSX in the last five years.
"This is a new development in the CSX and truly reflects the CSX's potential," he said.
Launched trading in 2012, the CSX is a joint venture between the Cambodian government holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent. Enditem
A single purchase
