Cambodia to launch stock market on July 11: Gov't statement

Cambodia is scheduled to inaugurate the long-awaited Cambodia Securities Exchange (CSX) on July 11, according to the statement of the finance ministry released to the media on Monday.

And the first securities trading will begin towards the end of 2011, added the statement dated on May 26.

The ministry explained that the above two different dates being planned are based on the experience of some countries, which scheduled the start of the securities market operator first, in order for this operator to have enough time in preparing the process of the first securities training.

The CSX is a securities market operator, a securities clearing and settlement facility operator, and a depository operator.

The head-office of the CSX is located in the kingdom's tallest building, Canadia Tower in Phnom Penh.

Three state-owned enterprises-Sihanoukville Autonomous Port, Telecom Cambodia and Phnom Penh Water Supply Authority--have been preparing IPO (Initial Public Offering) to list in the upcoming CSX.

The plan to open CSX was initiated by Korean Exchange in 2007.

xinhua

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