PHNOM PENH, April 30 (Xinhua) -- RMA (Cambodia) Plc., an authorized auto distributor in Cambodia, on Thursday raised 20 million U.S. dollars from listing its corporate bonds on the Cambodia Securities Exchange (CSX) despite the ongoing COVID-19 pandemic.
Ngorn Saing, CEO of RMA (Cambodia) Plc., said the firm issued 800,000 bonds, raising 80 billion riels (about 20 million U.S. dollars) and that the company's corporate bonds have a maturity date of five years with a coupon rate of 5.5 percent per annum.
"The listing does not only benefit the company, but also helps to promote and expand the CSX," he said during the listing ceremony. "These will increase trust and confidence in doing business in Cambodia by accessing fund through capital market and will be a catalyst for the development of national economy."
Sou Socheat, director general of Securities and Exchange Commission of Cambodia, said RMA (Cambodia) Plc. is the first private non-financial institution in the country to issue bonds.
He said due to the spread of COVID-19, companies can understand that diversification on source of funding is very important as companies having only one funding source is facing problem or crisis.
"Thus, in this difficult situation, source of fund from Cambodia Securities Exchange is the best choice," he said.
CSX CEO Hong Sokhour said the CSX has so far received a total of 10 listed companies, including five stock-listed companies and five bond-listed firms.
He said the 10 firms had collected a total capital of more than 190 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. Enditem
