Acleda Financial Trust (AFT), has bought 8.63 million listed shares of Acleda Bank Plc on Cambodia Securities Exchange (CSX) as of July 31, 2023, according to the bank’s bourse filing on August 1.
AFT is a successor of the Acleda NGO, the legitimate owner of the accumulated donor equity capital.
Kim Sophanita, director of CSX Securities Market Operations Department, told The Post that the AFT’s filing is an update of its investment progress of ACLEDA Bank in an effort to show its commitment and continuation of their five-year investment plan, as announced in February 2022.
“The continuation of the AFT investment plan would help correct the supply and demand mismatch and improve the share price accordingly, whether to increase the price or reduce the price drop,” she said.
While there is no shareholding limit in Cambodia, there are some requirements on information disclosure and prior approval from the regulator when the shareholding “reaches a certain limit”.
For example, information disclosure is needed when a person becomes a substantial shareholder (equity ownership of five per cent or more) and prior approval for when a person wants to become a controlling shareholder (30 percent or more shareholding).
In May 2020, Acleda became the first commercial bank in Cambodia to be listed on the CSX, raising proceeds of $17.5 million.
As of June 27, 2023, eight stocks are listed on the Main Board bourse while two are listed on the Growth Board – raising a combined capital of $124 million. Additionally, $323.5 million worth of corporate bonds have been issued on the CSX.