PHNOM PENH, Aug. 23 (Xinhua) -- Advanced Bank of Asia Limited (ABA Bank), a National Bank of Canada Group member, became the third firm to list its corporate bonds on the Cambodia Securities Exchange (CSX) on Friday.
ABA Bank's chief executive officer Askhat Azhikhanov said the bank issued 848,210 bonds worth 84.82 billion riels (about 21 million U.S. dollars).
He said the bank's corporate bonds have a maturity date of 3 years with a coupon rate of 7.75 percent per annum.
"ABA Bank will use the capital received from the issuance to expand its operations in order to support rural businesses as well as small and medium enterprises," he said.
CSX's chief executive officer Hong Sok Hour said it was another milestone for the CSX to get a third corporate bond issuer, saying that ABA Bank was the first commercial bank that listed its bonds on the CSX.
"So far, the CSX has received a total of eight listed companies, including five stock-listed companies and three bond-listed firms," he said, adding that the eight firms had collected a total capital of more than 150 million U.S. dollars from the securities market.
Launched trading in 2012, the CSX is a joint venture between the Cambodian government holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent.
According to Sok Hour, more than 21,400 individual and institutional investors have opened trading accounts at the CSX by June this year, remarkably up from only 8,973 at the end of 2017. Enditem