MJQE Closer to IPO Launch as CSX Grants Approval in Principle

CSX granted the same to green bond issuer electricity firm Green Sustainable Ventures (Cambodia) Co Ltd. Both companies now await SERC’s approval for public offering as they work on meeting further listing requirements of CSX
MJQE chairman and CEO Mengly Quach. Kiripost/Siv Channa
MJQE chairman and CEO Mengly Quach. Kiripost/Siv Channa

Cambodia Securities Exchange (CSX) has approved in principle international school owner Mengly J Quach Plc's (MJQ) equities listing eligibility review (LER), bringing it a step closer to launching its initial public offering (IPO) on the Mainboard.

Approval in principle has also been granted by CSX to solar power generator Green Sustainable Ventures (Cambodia) Co Ltd for its bond LER, the local bourse said in a statement today.

In order to officially list and begin trading on CSX, the issuers require Securities and Exchange Regulator of Cambodia's (SERC) approval for public offering, and need to meet further listing requirements of CSX.

Both issuers, whose LER applications were approved on March 7, will become the 10th issuer in their equity and bond markets, respectively, CSX said.

According to the statement, MJQ which was incorporated in 2012, is in the process of obtaining 15 campuses, including two operating in Siem Reap and Takeo, with a total number of 20,000 students.

It owns and operates the American Intercon School (AIS), Aii Language Centre (Aii) and Study Overseas Go Overseas and i-Learn, as well as offers pre-kindergarten education up to university preparation programmes.

Meanwhile, Green Sustainable Ventures, established in 2009 will become the second green bond issuer after real estate firm Golden Tree Co Ltd, which listed its bonds in January this year.

Green Sustainable Ventures’ main business involves generating 20 MW of electricity, using solar power in Svay Rieng province.