Tycoon Kith Meng’s telco firm CAMGSM Plc, which owns Cellcard, a major network provider in Cambodia, is expected to be Royal Group Co Ltd’s first company to list its shares on Cambodia Securities Exchange's (CSX) Mainboard.
This was confirmed by CSX which granted CAMGSM Plc an approval-in-principle on its equity listing eligibility review on Wednesday.
Phnom Penh-based conglomerate Royal Group owned by Kith Meng, is the parent company of CAMGSM, which needs to attain Securities and Exchange Regulator of Cambodia’s approval as well as meet CSX’s further listing requirements.
If approved, CAMGSM would be the second firm to be given the nod for Mainboard listing after education sector player Mengly J Quach Plc this year. Both firms will join seven other counters on the Mainboard.
In the last two years, Royal Group’s wholly-owned subsidiaries Telcotech Ltd and Royal Railway Plc issued corporate bonds on CSX, raising gross proceeds of $20 million and $34 million, respectively.
According to CSX, CAMGSM was incorporated in 1996 and provides installation and operation of equipment and machinery used in connection with its network.
The company has 52 retail outlets, 2,900 dealers and 3,000 cell sites nationwide.
