Was reading some online emerging market news and this one caught my eye... was wondering if Pinoys have enthusiasm just like these Cambodians who will have their first taste of capitalism after the Khmer Rouge.
Cambodia Gets Ready to Open Its Stock Exchange
By Joyce Koh on March 22, 2012
Min
Sovannry hadn’t been born when leaders of the Communist Khmer Rouge
took power in 1975 and abolished Cambodia’s money, markets, and
financial system. Now Sovannry, a 21-year-old college student, can’t
wait to embrace capitalism. One of thousands of Cambodians who have
attended stock trading seminars in Phnom Penh, Min says she’ll take as
much as one-third of the $300 monthly salary she expects to earn next
year and invest it in the country’s stock exchange, which is scheduled
to begin trading its first shares in April. “It’s a chance for me to
make money from buying stocks instead of putting it in the bank,” she
says.
Trading will begin on April 18 when state-owned Phnom Penh
Water Supply Authority has its initial public offering. Phnom Penh
Water’s shares will likely be priced near the high end of the target
range after investors sought more than 10 times the available stock,
says a person with knowledge of the matter who requested anonymity
because he wasn’t authorized to discuss the offering. The company, which
plans to raise as much as 82.8 billion riel ($21 million), held a
two-week road show in the nation’s capital starting Feb. 29, with about
400 potential investors crammed into a conference hall with seating
capacity for half that number.
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