Westline Education Group set plan for IPO

The Phnom Penh-based Westline Education Group Co Ltd (WEG) still plans to sell shares through an initial public offering (IPO) on the Cambodia Securities Exchange's (CSX) secondary Growth Board "in the upcoming years" to diversify its funding sources and open additional schools in more localities nationwide, according to the company's boss on September 5. WEG co-founder, chairman and CEO Pech Bolen said that his company--classed as a small- or medium-sized enterprise (SME)--joined the Securities and Exchange Regulator of Cambodia's (SERC) Excellence Program and was certified as "qualified" to issue equity securities on a Cambodian bourse. He affirmed that the firm is consolidating its position in preparation for listing, to garner more support from public investors when the day comes. According to the company profile on its website, "starting with a school of 600 students and 70 teachers and staff in 2008, WEG has grown so far to become a leading education group with more than 13,000 students and more than 1,000 teachers and staff in diverse education and training subsidiaries in 2017". (Source: The Phnom Penh Post)