The eligibility of CAMGSM PLC the sustainability Bond listing was approved in principle by CSX and SERC. | Cellcard

The eligibility of CAMGSM PLC the sustainability Bond listing was approved in principle by CSX and SERC.

Published Date: October, Friday 06, 2023

CAMGSM PLC received approval in principle from CSX on September 28, 2023, and the Securities Exchange Regular of Cambodia (SERC) approved on October 06, 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). The company plans to issue a bond of up to USD 20 million with a maturity of 10 years, effective early November 2023. The interest rate and the creditors are still being negotiated and will be announced soon. The proceeds from the bond will support the expansion of the company’s telecommunication network and the repayment of existing debts. CAMGSM PLC must comply with all listing requirements before officially starting trading in 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. 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 CSX recently, demonstrating its support for the Royal Government of Cambodia and the economy and creating growth opportunities.

Recently, the company announced its Q2 Report for the Financial Year 2023, revealing a remarkable growth in its profit compared to the same quarter of the previous year, despite 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 27 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.

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