SBI Royal Securities (SBIR) has long been a frontrunner in Cambodia’s capital markets and the past year was no different, making it Euromoney’s choice for best securities house in the country.
SBIR was financial adviser and lead underwriter for the $5.3 million-equivalent IPO of CamGSM, a telecommunication company with a market capitalisation of $1.14 billion. It was the first non-bank company to surpass $1 billion in valuation on the Cambodia Securities Exchange (CSX). The shares, listed in June 2023, also outperformed in the secondary market, with investors netting more than 10% in returns by March this year.
Another notable deal for SBIR was the country’s first green bond to be listed on the CSX. SBIR, which is led by CEO Nakanishi Kenji, helped Golden Tree raise roughly $1.5 million from the landmark deal.
On secondary, SBIR had a 4.43% market share by turnover in the second quarter of 2024, according to CSX data, reflecting a stunning 257% gain year-on-year. This gave it the second highest share after Acleda Securities, which had a stranglehold at 87.35%.