Logo of Phnom Penh Post newspaper Phnom Penh Post - Power firm poised for listing on the CSX

Power firm poised for listing on the CSX

Power firm poised for listing on the CSX

The Cambodian Securities Exchange (CSX) granted its approval for an initial eligibility review for Pestech (Cambodia) Ltd to be listed on the bourse.

According to the announcement on Wednesday, Pestech, an electric power engineering company, would become the sixth to be listed on the exchange if it meets requirements.

Lamun Soleil, director of market operations at CSX, on Wednesday said the addition of another firm is a positive sign.

“It is good for us when we have more products to sell and the investors have choices,” he said.

In order to be listed and have its securities traded on the CSX, the firm, which specialises in power transmission, will require approval from the Securities and Exchange Commission among other requirements, the announcement said.

Pestech (Cambodia), wholly owned by its Malaysian-owned parent company Pestech International, plans to raise a cash equivalent of $18 million during its initial offering on the CSX in order to expand its presence in the Indo-China region.

Pestech was last year awarded a contract to build a 230-kilovolt transmission line valued at $100 million connecting Koh Kong province’s Stung Tatai hydropower dam to Phnom Penh, according to a filing on the Malaysian stock exchange.

Currently there are five companies being trading on the exchange, of which three are state-owned enterprises.

MOST VIEWED

  • Over 100 Chinese nationals to be deported for online scam

    The Ministry of Interior is planning to deport 128 Chinese nationals after they were arrested in Preah Sihanouk province on Wednesday for their alleged involvement in an online money extortion scam. Y Sokhy, the head of the Department of Counter-terrorism and Transnational Crime, told The Post

  • LPG gas explosion injures 13 people, including foreigners, in Siem Reap

    An explosion on Wednesday at a liquid petroleum gas (LPG) car and tuk-tuk refuelling station in Siem Reap city has left 13 people, including an American and a Briton, suffering burns. The seven most severely burned, including a provincial police officer, were sent to a Thai

  • The French mother navigating the capital in her own personal tuk-tuk

    French woman Cecile Dahome gracefully manoeuvres her tuk-tuk through the manic streets of Phnom Penh with the precision of a Japanese katana before a herd of motorcyclists, attempting to perform illegal U-turns, cuts her off. The riders, like baby ducklings following their mother’s tracks,

  • More than 800 people test positive for HIV in 2018

    The National Aids Authority (NAA) said more than 800 people tested positive for human immunodeficiency virus (HIV) last year, joining over 76,000 others aged between 15 and 49 in the Kingdom already infected with the virus. The spread of HIV/AIDS in the Kingdom is showing few signs of