The Mengly J. Quach Education Plc (MJQE) initial public offering (IPO) gathered further momentum with the IPO Exhibition at AEON Mall Sen Sok on May 12 as it informs the nation of the important investment opportunity.
The event was presided over by Securities and Exchange Regulator of Cambodia (SERC) Director-General H.E. Sou Socheat, Cambodia Securities Exchange (CSX) CEO H.E. Hong Sok Hour, and Neak Oknha Dr. Mengly J. Quach – the Founder, Chairman and CEO of MJQE – with distinguished guests in attendance.
With MJQE set to go public on the CSX, the founder of Cambodia's leading private educational institution is calling on members of the public – particularly the parents of students – to purchase MJQE shares to help strengthen and expand the Cambodian education sector.
MJQE currently has a total of 15 campuses in the capital and across the provinces, with over 20,000 students, 2,149 employees and more than 50,000 alumni studying and working around the world.
The company is set to open in more locations in the academic year 2023-2024, with campuses in Phnom Penh's Sen Sok and Chbar Ampov districts, as well as Kampong Cham, Takeo and Battambang provinces.
The public subscription process began on April 10, 2023, and concludes on June 9, with MJQE set to officially join the CSX on June 28, subject to prior-approval from the SERC.
MJQE's continued success over the years has contributed to its entry onto the Cambodian stock market, with the IPO open to general investors and intended to raise $10 million to establish further schools.
The public subscription process began on April 10, 2023, and concludes on June 9, with MJQE set to officially join the CSX on June 28.
With IPO Proceeds of $10,000,000 and a Guaranteed Dividend of six per cent for two years, 19,606,600 shares – 5.88 per cent of total company shares – are to be issued, at price of 2,080 riel ($0.51) per share.