Private educational institute Mengly J. Quach Education Plc is gearing up to be listed on Cambodia Securities Exchange (CSX) after receiving approval in principle for a $10 million IPO.
Mengly J. Quach Education was established in 2005 as one of Cambodia’s leading private educational institutions, with a strong focus on quality education, discipline and services. Since then, it has gone from strength-to-strength.
From the outset, founder, chairman and CEO, Quach Mengly, had a clear plan and long-term vision to lead the company into expansion by entering the CSX. By 2012, Mengly had already prepared the company to enter CSX.
Over the years, the company's success has been testament to its entry into the CSX. With the planning of future business strategies, clear goals and will of Mengly, the business has expanded to strengthen the education sector by setting a clear staff structure, management, highly-skilled leadership and have the right board.
At the same time, Mengly also planned to make a request to the Securities and Exchange Regulator of Cambodia (SERC) for the official listing of the company's securities. However, this was postponed due to the Covid-19 pandemic.
In 2023, after the pandemic, Mengly officially decided to apply to SERC and CSX to list Mengly J. Quach Education PLC as the company is gaining momentum.
Today, Mengly J. Quach Education continues its strong position in the field of education, boasting 15 branches in the capital, provinces, cities, with more than 20,000 students, 2,149 employees and more than 50,000 alumni, studying and working around the world.
The company will open new branches for the academic year 2023-2024, including in Sen Sok, Chbar Ampov, Kampong Cham, Takeo and Battambang.
After SERC carefully examined the application to be listed, it saw the extension of growth and development. On March 7, CSX agreed in principle for the application to examine the possibility of listing the sale of equity securities. On March 20, CSX approved a proposal to set a price of 2,080 riels per share.
On April 4, the Non-Bank Financial Services Authority held a meeting under the chairmanship of Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance and Chairman of the Authority, and Sou Socheat, Royal Government Delegate in charge of the Director General of SERC and a member of the Authority, through face-to-face meetings and the remote messaging of images.
After the presentation, as a result, the Authority allowed in principle the public securities offering request of Mengly J. Quach Education. The company must continue to complete the formal procedure on this publication in accordance with the decision of SERC.
Regarding the public offering of Mengly J. Quach Education public equity securities, Mengly stated the will and purpose of listing the sale of securities.
A statement announcing the update said, “Please be informed that to register the sale of securities owned by Mengly J Quach Education, the company must be officially approved by SERC and must obtain prior approval from CSX to set the selling price of the securities and meet the registration requirements related to equity securities.”
1️-General information about MJQE IPO:
Number of issued shares (IPO Shares): 19,606,600 shares (5.88% of total company shares)
IPO Price per Share: 2080 riels per share
Total Publication Price (IPO Proceed): $10,000,000
Guaranteed Dividend: 6% for 2 years
Start date: April 10, 2023
Closing date: June 9, 2023
3️-Official Entering Securities Exchange Date: June 28, 2023
4-Slogan: (Invest with Mengly J. Quach Education, Invest in education in Cambodia and the future of your children)
Mengly J. Quach Education currently has four major institutions:
1- AII Language Center focuses on English, Chinese and Thai language training.
2- American Intercontinental School (AIS) has a clear and diverse curriculum from kindergarten to high school, the first Khmer-American style in the Kingdom of Cambodia in compliance with the Ministry of Education, Youth and Sports.
3- SOGO service to study and visit abroad.
4-i-Learn English online learning program.
Subscriptions for individual investors must be submitted through the online form below::
Access to online profile (https://subscription.mjqeducation.edu.kh/)
For more information, please contact RHB Securities (Cambodia), Telephone (+855) 23 969 161