Cambodia's stock market begins trading for first time

Trading on Cambodia's stock exchange started today after a state-run company completed its initial public offering.

Some 13 million shares of the state-run Phnom Penh Water Supply Authority were offered at 6,300 riel (£98p) per share.

The stock exchange was officially launched in July 2011, but trading only began today because of a delay blamed in part on time needed to finalise investment laws.

Prime minister Hun Sen has expressed hope the stock market will be a new way to attract foreign capital besides international aid and bank loans.

Cambodia is one of the last south-east Asian nations to open a stock market. Neighbouring Laos opened its bourse in January last year and Vietnam's exchange has operated since 2000.