FOUR major banks have confirmed receiving in-principle approval for roles on Cambodia’s new stock exchange.
One banker described the move yesterday as “a progressive step” for the long-awaited bourse.
The Securities and Exchange Commission of Cambodia said yesterday that it had told companies this week whether they were picked to become securities firms and representatives on the exchange, fulfilling roles such as underwriters and brokerages.
SECC Director General Ming Bankosal declined to immediately reveal how many of the 22 applicants had been successful, saying that approvals were subject to ongoing fee payments.
However, four companies told the Post that they had already gained in-principle approvals.
They are Cambodian banks
ACLEDA and Canadia, together with Malaysia-listed OSK Indochina Bank and Tong Yang Securities, a leading investment bank in South Korea.
“ACLEDA has been granted approval as a proposed securities brokerage business,” said Svay Hay, vice president and head of the capital market division at the bank.
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