At 9:09 a.m., an auspicious time apparently, a bell clanged to open the Cambodian Stock Exchange for the first time.
The much anticipated but long-delayed opening was seen as a success; the single stock that investors can trade on the exchange- The Phnom Penh Water Supply Authority- surged 48% from its initial offer price which was 17 times over-subscribed.
How interesting. Cambodia is starting to develop at a fast pace to make up for lost time. Thailand's Stock Exchange (SET) opened in 1975, and interestingly during April also. Perhaps it is also an auspicious month.
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