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Luisa Tam

Mainland IPOs make the world go round
We came across a correction by Thomson Reuters business news service clarifying that the Shenzhen Stock Exchange is the leading exchange for global initial public offerings, rather than the New York Stock Exchange.
The correction says: 'The Shenzhen Stock Exchange has seen the highest proceeds of global IPOs year to date, with US$23.8 billion in proceeds raised from 166 issues YTD. Our original alert mistakenly indicated that New York Stock Exchange was the leading exchange for global IPOs.'
However, NYSE is the leading exchange for total global equity capital markets (ECM) issuance, including follow-on equity.
Thomson Reuters also pointed out that  Agricultural Bank of China's  US$19.2 billion share sale has helped put China in second place for ECM issuance year to date, with US$68 billion in proceeds, while the United States remains in the top spot for ECM issues totalling US$92.7 billion for overall issuance.
When it comes to IPOs, China seems to have overtaken all other countries in generating nearly US$50 billion in proceeds.  
The mainland's 216 IPOs year to date account for 45 per cent of all IPOs globally, up 17 times from the same period last year. 
Many highly developed markets including Wall Street are worried they are losing out on big IPOs from China.
We can fully understand why there is a bit of confusion as to which exchange is the IPO market leader. 
The mainland's fast-growing and high-velocity initial public offering activities are enough to make anyone's head spin.
Financial worries
According to a recent financial management survey, more than 50 per cent of local secondary school students view long-term wealth accumulation and preparing for the future as the most important financial goal.
Of the 3,600 students - aged 15 to 19 - surveyed, the majority also believes market uncertainty can translate into opportunity through investment.
They said they would buy selected stocks when prices are low and hold them for a long period as the best investment strategy under any financial climate.
Another interesting finding is that more than 95 per cent of the respondents believe financial education should start in secondary school or even as early as primary school or kindergarten.
About 70 per cent of these young respondents currently use bank savings accounts to accumulate wealth.
Nearly 40 per cent of them believe investing in the stock market could be an effective way to accumulate wealth, followed by investing in property, foreign currencies, the Hong Kong dollar and fine jewellery.
The report, sponsored by the Citi Foundation, concludes: 'The findings demonstrate students' positive and proactive attitude towards investment and understanding of the importance of financial management for their future.'
We agree that taking control of your finances by becoming financially savvy is not a bad thing, but being mercenary at such a young age does sound a bit worrying. 
How about a new Myanmar?
There is always something peculiar going on in Myanmar, a country constantly shrouded in secrecy.
Here is the latest addition to its many absurd situations. 
Four new private banks are set to open their doors for business next month.
The Myanmar Central Bank had approved private banking licences for Max Myanmar Group, Htoo Group, Eden Group and IGE Trading in May, the Myanmar Times reported. 
The new banks are known to have close connections with the ruling military junta, which has vowed to hold a general election some time this year.
The Htoo Group, for example, is owned by Tay Za, a well-known businessman with close ties to the regime. Its  bank will be named Asia Green Development Bank. 
Businessmen close to Myanmar's junta have been making numerous investments this year in government assets and concessions prior to the polls, a date for which has yet to be set.
Myanmar has been under military rule since 1962. 
The last general election, in 1990, was won by the opposition National League for Democracy headed by Aung San Suu Kyi, but the junta refused to recognise the results and has denied the party power for 20 years - and Suu Kyi spent her 65th birthday last month under house arrest.
We hear these new financial institutions will operate in the country's new capital of  Naypyidaw. 
Well, for a real interesting new beginning, may we suggest a 'new' Myanmar to throw into the mix?



Lai See