The Phnom Penh Water Supply Authority (PPWSA) has announced it will be starting its book building process to determine the stock pricing for its Initial Public Offering (IPO) with the aim of being listed on the Cambodia Securities Exchange (CSX). The final offering price will be announced after getting approval from the CSX and the Securities and Exchange Commission of Cambodia (SECC).
It will be the first Initial Public Offering in Cambodia, and the first in the history of Cambodia’s stock market, which is slated to start trading in the near future.
Book building is essentially a process used by a company which wants to raise capital through an Initial Public Offering (IPO) and a Follow-on Public Offering (FPO) to aid the price and demand discovery.
To be continued…