Thai, Cambodian SEC sign pact on capital markets
published : 18 Sep 2019 at 08:44
newspaper section: Business
Cambodia and Thailand's Securities Exchange and Commission (SEC) yesterday signed a memorandum of understanding (MoU) on mutual cooperation for capital market development through cross-listing, dual listing and depositary receipt offerings.
The move aims to push forward securities offerings, connecting the Cambodian and Thai capital markets. It also supports Thailand's 20-year national strategy to promote the country as a regional fundraising hub.
The MoU expands the scope of cooperation from the framework signed by both organisations in 2014 and establishes guidelines for securities offering in Cambodia and Thailand.
"The MoU marks goodwill between Thailand and Cambodia's SECs to develop capital market products for Thai and Cambodian securities issuers for sale in each country. It also supports business expansion, enhances liquidity and provides a greater opportunity to access funding sources," said Thai SEC secretary-general Ruenvadee Suwanmongkol.
"We hope Cambodia will be the first country where Cambodian companies will offer securities sales to Thai investors, listing on the Stock Exchange of Thailand," said Ms Ruenvadee.
Sou Socheat, director-general of Cambodia's SEC, said the MoU offers an additional option to raise funds, enhance liquidity and expand business operations for Cambodian and Thai operators.
"This MoU will be a good model for regional cooperation for capital markets in the region," he said.