Telcotech gets the green light from CSX to list bonds
On August 19, submarine fiber optic cable solutions provider Telcotech Ltd became the third company this year to receive in-principle approval from the Cambodia Stock Exchange (CSX) for its application for review of l eligibility for listing on the stock market.
âTo be able to officially register and trade on CSX, Telcotech must be authorized by the Cambodian Securities and Exchange Regulator. [SERC] to issue bonds and meet certain other listing requirements, âthe exchange said in a statement.
DBD Engineering Plc was the first company in 2021 to be approved in principle by CSX for its listing application, followed shortly after by JS Land Plc.
CSX Head of Market Operations Kim Sophanita told The Post on August 22 that Telcotech’s offer would be a “new kind of bond issue” favorable to companies wishing to raise debt capital. from private market sources.
She said she was certain it would be listed soon thanks to the reduced requirements, especially with respect to disclosure requirements and corporate governance regulations.
âWe are delighted to welcome Telcotech on board. Our market will now have a more diverse product line for investors, in terms of product type, company size and industry.
“It won’t take Telcotech long to get approval and listing as this is a special type of bond issue for qualified investors, and I’ve heard that all bonds have been fully booked, âshe added.
Although she declined to disclose the issue amount or the bond’s coupon rate, Sophanita said she would be guaranteed by the Manila-based Asian Development Bank (ADB) trust fund, credit guarantee and investment facility (CGIF).
Founded in 2007, Telcotech has established a solid presence in public telecommunications services in the Kingdom, particularly in internet services, data centers and cloud solutions.
The company was fully acquired by the CEO of Royal Group of Companies Ltd, Kith Meng’s Ezecom Co Ltd in 2011.