Cambodian, Thai bourse regulators to work together

The bourse regulators in Cambodia and Thailand this week announced plans to work together to boost their capital markets through cross-border listings and depositary receipts.

During a meeting on Monday in Phnom Penh, Ruenvadee Suwanmongkol, secretary-general at the Securities Exchange Commission (SEC) in Thailand, and Sou Socheat, general director of the Securities and Exchange Commission of Cambodia (SECC), agreed to sign a memorandum of understanding on cooperation next month.

The MoU will cover equity offerings and depositary receipts and will allow entities to make an offer or list stock outside their countries.

The agreement is seen as an effort to boost the development of the Cambodian bourse, which launched in 2012 but has thus far attracted just five companies to the main board.

During the meeting on Monday, the regulators exchanged views on cooperation and assistance, according to a statement issued after the meeting.

“Building on a MoU on cooperation signed in 2014, SECC and SEC Thailand have agreed to sing an additional MoU on cross-border equity offering and the issuance of DR which will allow issuers from both Cambodia and Thailand to make an offer or to list their equity securities outside the issuer’s home jurisdiction,” it said.

“Cross-border equity offering will help expand the issuers’ businesses, increase their liquidity derived from trading in more than one exchange and give them access to a larger pool of potential investors,” it said.

The MoU will establish a working group composed of SECC and SEC Thailand officials.

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