Royal Group’s Phnom Penh Special Economic Zone Announces Share Buyback Citing Undervaluation, After Previous 2020 Announcement

Cambodia Securities Exchange (CSX) is honored to notify the public that the CSX granted its approval in principle on bond listing eligibility review (Green Bond) to Royal Group Phnom Penh SEZ Plc. on May 10, 2024. In order to be officially listed and have its securities traded on the CSX, Royal Group Phnom Penh SEZ Plc. shall get offering approval from the Securities and Exchange Regulator of Cambodia (SERC) and meet further listing requirements of the CSX.

Key Points:

• Share Buyback Approval: Royal Group Phnom Penh SEZ Plc. (PPSP) has been approved to buy back up to $200,000 in shares, citing undervaluation of shareprice. The shareprice jumped 10% to 2,230 riels a share upon the announcement.
• Financial Health: As of December 31, 2023, PPSP reported retained earnings of $21.6 million and cash on hand amounting to $4.1 million.
• Strategic Move: The buyback aims to enhance shareholder value and reflects the company’s confidence in its future prospects.