Shares start moving

After delays, Cambodia’s stock exchange launches trading

After many delays and some doubt, shares finally began trading on the Cambodia Securities Exchange (CSX) on April 18 in what the Finance Minister Keat Chhon called “a big leap forward” for the economy and observers say will spur growth by making it easier for companies to raise capital.
Spirits were high as Prime Minister Hun Sen rang the opening bell via a video link from his home to start the first trade at the auspicious time of 9:09 am—the number nine is considered lucky in Cambodia.
“It is a historic day,” he said, adding that with the opening of the securities market, a long-awaited development was finally taking place.
“The establishment of the securities market will enable the country’s economy to provide financing for enterprises while strengthening their management and helping them earn the trust of investors and the public,” he said.
To be continued…
Source: Economics Today, Issue 116, April 23-29

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