Mengly J. Quach Education Plc (MJQE) has launched a roadshow campaign to pitch to potential investors as it gears up to officially go public for a $10 million IPO on the Cambodia Securities Exchange (CSX) planned for late June.
The roadshow follows the greenlight from CSX and the Securities and Exchange Regulator of Cambodia (SERC) for the private educational institute to be listed on the country’s stock exchange market.
Speaking at the roadshow launch, MJQE’s founder, chairman and CEO, Quach Mengly, said he plans to use the raised funds to expand school branches to a total of 33 by 2025 to provide affordable quality education to more Cambodian children.
“To make this plan possible, I would like to appeal to the students’ parents and the public to continue to support MJQE by investing in the company through this IPO,” said Quach Mengly.
“Investing in MJQE equals supporting the education sector, supporting our youth and supporting our future Cambodian scholars,” he added.
MJQE 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, 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 the 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 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 MJQE as the company is gaining momentum.
Today, MJQE 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.
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 amount of IPO: $10,000,000
- Guaranteed Dividend: 6 percent per annum for two years
2️. IPO Subscription:
- Start date: April 10, 2023
- Closing date: June 9, 2023
3️. Official IPO Date: June 28, 2023
MJQE currently has four major institutions namely AII Language Center, which focuses on English, Chinese and Thai language training; American Intercontinental School (AIS), which 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; SOGO service to study and visit abroad; and i-Learn English online learning program.
Subscriptions for individual investors must be submitted through the online form here: https://subscription.mjqeducation.edu.kh/
Investors shall make payment via bank transfer to the following bank accounts:
- Bank Name: ACLEDA Bank Plc.
- Account Name: MENGLY J. QUACH EDUCATION PLC. - Subscription account
- Account Number (Dollars): 00010482225555
- Account Number (Riels): 00010482225565
- Swift Code: ACLBKHPP
For more information, please contact RHB Securities (Cambodia), Telephone 023 969 161. [Partnered Content]