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Real estate developer becomes 15th firm listed on Cambodia's bourse

Date: 2022-02-24
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PHNOM PENH, Feb. 10 (Xinhua) -- Real estate developer JS Land Plc. debuted on the Cambodia Securities Exchange (CSX) on Thursday after an initial public offering (IPO) raised nearly 3.8 million U.S. dollars, according to the firm's press release.

The firm sold 8.1 million shares at the price of 0.467 dollars per share, it said.

Jack Yap, chief executive officer of the company, said with its experience from Malaysia and China's Hong Kong, JS Land Plc. has been focusing its projects on affordable homes and condos to meet the need of Cambodians.

'In recent years, as a result of emerging demand from the middle class, the Cambodian market has seen a major shift from high-end condominiums to affordable homes,' he said at the listing event.

Founded in 2014, the firm has invested in Garden Residency 1 and Garden Residency 2 in capital Phnom Penh's Sen Sok district, he said.

CSX's CEO Hong Sok Hour said the CSX has so far received a total of 15 listed companies, including nine equity firms and six corporate bond firms and that these listed companies have collected a total capital of 281 million dollars.

'These firms have not only got a long-term source of funds for their business development, but also received tax incentives from the government as well as gained credibility from both local and foreign investors,' he said.

He said the JS Land Plc.'s listing during the COVID-19 pandemic clearly reflected the potential of the country's securities market.

Launched in 2012, the CSX is a joint venture between the Cambodian government that holds 55 percent of the stakes and the Korea Exchange that owns the remaining 45 percent. 


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