The date of Taiwanese garment
manufacturer Grand Twins International’s listing on the Cambodia Stock Exchange
(CSX) has been pushed back due to delays in the submission of final IPO
documents. CEO of Phnom Penh Securities, chief underwriting firm for the IPO,
yesterday confirmed the listing would not meet GTI’s May 29 target; however,
the company was still expected to go public within the next two weeks.
GTI’s offering of eight
million shares, set at $2.41 each, stands to generate more than $19.2 million
for the Taiwanese firm if fully subscribed to. With the increased liquidity,
GTI, which largely makes sporting apparel for Addidas and Reebok, plans to
expand its operation to a new $10 million factory located outside of Phnom
Penh. GTI will be just the second company to list on the CSX since the local
stock market was launched in 2012, joining the state-owned Phnom Penh Water
Supply Authority.
Source:
http://www.phnompenhpost.com/business/grand-twins-confirms-listing-next-month-csx-papers-delayed
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