Cambodia Securities Exchange (CSX) granted its approval in principle of the listing eligibility review application of Phnom Penh Autonomous Port (PPAP), the exchange announced on its website yesterday.

The listing eligibility review is required in order for PPAP to list and trade its securities on Cambodia’s stock exchange.

The CSX will forward the port operator’s financial statements and documentation to the Securities and Exchange Commission of Cambodia (SECC) for final approval.

PPAP, a state enterprise that operates Cambodia’s second-largest port, has said it is seeking to raise funds for expansion by launching an initial public offering on the CSX.