Sihanoukville port announces bookbuild and IPO date
The state-owned enterprise that operates Cambodia’s only deep-sea port officially announced that it will launch its six-day bookbuild and public roadshow starting next Tuesday with an expected initial public offering on the Kingdom’s stock market set for May 31, the company’s sole underwriter said on April 20. Sihanoukville Autonomous Port will float a total of 21.44 million shares, or 25 percent of the company, in hopes to raise $27 million to expand and improve on existing facilities. It will be the fifth company to list on the Cambodia Securities Exchange in the last five years and would be the largest IPO to date. The bookbuild, a tool used by underwriters to record demand from institutional investors, is expected to set a price band from $0.88 to $1.29 per share.
