CAMGSM PLC. Sustainability Bond Listing

CAMGSM PLC. received an approval in principle from CSX on September 28, 2023, for its sustainability bond listing eligibility. This approval makes CAMGSM PLC. the first issuer of a sustainability bond in Cambodia, marking a historic moment for both CAMGSM PLC. and the Cambodian capital market.

CAMGSM PLC. is preparing to list its sustainability bond on the Cambodia Securities Exchange (CSX) after obtaining an approval from the Securities and Exchange Regulator of Cambodia (SERC). The company plans to issue a bond of up to USD 20 million with a maturity of 10 years, effective from the end of October 2023. The interest rate and the creditors are still being negotiated and will be announced in due course. The proceeds from the bond will support the expansion of the company’s telecommunication network and the repayment of existing debts. CAMGSM PLC. will have to comply with all listing requirements before it can officially start trading it on the market.

Royal Group Securities, the sole underwriter and financial advisor of CAMGSM PLC., expressed its confidence in the positive effects of the listing for Cambodia’s capital market and its environmental, social, and corporate governance (ESG). They highlighted the role of CAMGSM PLC. in advancing the Kingdom’s ESG standards and practices through its sustainable and responsible business operations.

The company has been actively engaging with the CSX in recent months, demonstrating its support for the Royal Government of Cambodia and the economy, and creating opportunities for growth.

Recently the company announced its Q2 Report of Financial Year 2023, revealing a remarkable growth in its profit compared to the same quarter of the previous year, despite of some revenue challenges caused by the discontinuation of some popular products such as balance advance. The significant progression in profitability follows its successful initial public offering (IPO) and listing of its Class A Voting stock on the Cambodia Securities Exchange on 27th June 2023.

The initiation of this up to USD 20 million sustainability bond was made possible by the resolution of the Board of Directors of CAMGSM PLC. released on 21 July 2023, authorizing the issuance of debt securities up to USD 70 million, which is a strategic move by CAMGSM PLC. to raise capital and expand its business in the telecommunications sector of the Kingdom.

“Cellcard has been a key player in Cambodia’s development providing reliable and affordable communication services to millions of customers. As a brand, Cellcard stands for quality, innovation, and social responsibility. As a service provider, Cellcard offers a wide range of products and solutions to meet the diverse needs of the Cambodian market. This year we are celebrating 26 years of service, and we look forward to contributing to Cambodia’s future growth and supporting the Royal Government’s vision for a Digital Economy. We are committed to delivering long-term value to our customers, centered around our renewed focus on network quality and performance, innovation, and service excellence.” — Simon Perkins, Cellcard CEO.

For more information, please email to investor_relations@cellcard.com.kh.

About Cellcard

Launched in 1997, Cellcard is Cambodia’s longest-serving and only 100% CAMBODIAN-owned operator, reputed for its long history of first-to-market innovations, outstanding customer service and the fastest, most reliable mobile network.  Considered as one of the biggest telco companies in Cambodia, Cellcard services over four million customers with nationwide coverage and an expansive dealer and distribution network.

With a vision towards providing connectivity for all and enhancing the way customers live, work and play, Cellcard’s portfolio continues to expand to accommodate and build the esports and gaming community, provide digital entertainment services to address the need for real-time and on-demand content, and offer innovative and insightful enterprise solutions to support businesses.

Cellcard stands as the most awarded operator in Cambodia with more than forty global and regional accolades.