South Korea-owned Phnom Penh Commercial Bank Plc (PPCBank) announced it will list a second bond offering on the Cambodia Securities Exchange (CSX) on Thursday to raise another $10 million.
The second listing comes more than five months after PPCBank’s first round was officially issued in late April. That effort also raised $10 million.
CSX vice-chairman Jong Weon Ha told The Post PPCBank will issue a total of KHR 40 billion (approximately $10 million) in bonds with a maturity of three years and a coupon rate of 6.5 per cent per year.
He said all bonds were fully subscribed on September 21 and the bank will list these bonds on the CSX on October 9.
“I think it is very normal that a securities-listed company raises funds from the capital market more than once.
“With the success of the second bond issuance, PPCB is proving the stock market is a rich source of funding that allows companies to raise additional capital several times to support the rapid development and expansion of their business, rather than waiting for their profits to expand the business, which may be slow,” he said.
Han Kyung-tae, the managing director of Yuanta Securities (Cambodia) Plc, the company managing PPCBank’s bond issuance project, said the first PPCBank listing in April – in the middle of the health crisis – was a great achievement for both the bank and the development of the Kingdom’s capital markets.