21 Jun 2019
The majority Chinese-owned Sihanoukville Special Economic Zone Co Ltd (SSEZ) announced yesterday that it is going for public listing to raise more funds through the capital market, according to the statement from Cambodia Securities Exchange (CSX).
Sihanoukville SSEZ is now standardizing the company’s development, working on the construction of a Sihanoukville Special Economic Zone 2.0 and strives to be listed on the Cambodia Securities Exchange.
The announcement was made during the 2018 annual shareholders meeting yesterday.
“This marked the official goal of the SSEZ to be a listed company and it has begun to prepare for the listing,” the CSX statement said. “The purpose of SSEZ to go public is to raise more funds through the capital market, promote high quality development of the zone and make greater contributions to the development of Cambodia’s industrial economy.”
In addition, through listing, all Cambodian shareholders can share the achievements of the zone and achieve a win-win situation, it added.
The SSEZ had planned to raise funds for real estate development in the zone by launching an initial public offering (IPO) in Hong Kong but had decided to list on the Cambodia Security Exchange (CSX) instead, its president Jack Chen told Khmer Times’ weekly business publication Capital Cambodia in March.
Established in 2008, SSEZ is a partnership between Jiangsu Taihu Cambodia International Economic Cooperation Investment Co Ltd, Wuxi-based Hodo Group Company, Yuandong Co Ltd and Cambodia International Investment Development Group Co Ltd.
Its close proximity to the Sihanoukville Autonomous Port and International Airport makes it a viable industrial area for investors, made sweeter by lower land prices than Sihanoukville Economic Zone (SEZ) along the coast.