SEOUL, Jan 22 (Reuters) - South Korea's stock exchange operator said on Tuesday it had agreed with the Cambodian government to set up and run a joint stock exchange in the Southeast Asian country in 2009.
The Korea Exchange , Asia's fourth-largest bourse operator, has in recent years supported stock market development in Southeast Asia as part of efforts to raise its profile and draw foreign firms to Seoul for listings.>
KRX said in a statement the exchange and the Cambodian Finance Ministry were working on a detailed investment plan to set up the Cambodia Stock Exchange and a support system next year.
The Cambodian government will own a minimum 51 percent in the new bourse while KRX will hold as much as 49 percent. KRX will also help the country set up a regulatory body to oversee stock trading, it said.
South Korea said last year it would spend $1.8 million in training and help set up the modern stock market in Cambodia, which is recovering from a 30-year civil war ended in 1998.
The Korea Exchange , Asia's fourth-largest bourse operator, has in recent years supported stock market development in Southeast Asia as part of efforts to raise its profile and draw foreign firms to Seoul for listings.>
KRX said in a statement the exchange and the Cambodian Finance Ministry were working on a detailed investment plan to set up the Cambodia Stock Exchange and a support system next year.
The Cambodian government will own a minimum 51 percent in the new bourse while KRX will hold as much as 49 percent. KRX will also help the country set up a regulatory body to oversee stock trading, it said.
South Korea said last year it would spend $1.8 million in training and help set up the modern stock market in Cambodia, which is recovering from a 30-year civil war ended in 1998.
1 comment:
I believe this is good thing,To have stock exchange launch in 2009.
Maybe I would like to to be the first simple khmer person to invest money in the stock market in my own country.
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