Myanmar stock exchange readies for first trade

YSE openingMyanmar’s new stock exchange in Yangon will commence trading on March 25, more than three months after it launched, according to the country’s deputy finance minister Maung Maung Thein.

First Myanmar Investment Co. Ltd. will begin selling its shares on the Yangon Stock Exchange (YSE) by that day, followed by Myanmar Thilawa SEZ Holdings and Myanmar Citizens Bank. Other companies, among them First Private Bank Limited, Great Hor Kham Public and Myanmar Agribusiness Public Corporation, will join at a later date.

Five additional companies have applied to list at the exchange and another ten are in discussions with securities companies. In total, at least ten companies could list during this year.

According to the country’s Securities and Exchange Commission, shares of First Myanmar Investment, a diversified conglomerate and one of Myanmar’s largest companies, will be priced at 20,000 kyat ($16.54) each. The company does not plan to issue any new shares but will move the existing securities of its 6,800 shareholders to electronic accounts linked to the new exchange.

YSE is operated by Japan’s Daiwa Securities and the Japan Exchange Group, which operates the Tokyo Stock Exchange. Both former companies own 49 per cent of the exchange, while the rest is held by Myanma Economic Bank, one of several Myanmar lenders which is still on the US sanctions list due to its close ties to the former junta.

The exchange has a working capital of $31 million. The Securities and Exchange Commission selected Kanbawza Bank to be the settlement bank for the exchange. Kanbawza Bank is owned by Aung Ko Win, a Myanmar business tycoon with close ties to top army generals who made his fortune in jade mining.



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Myanmar's new stock exchange in Yangon will commence trading on March 25, more than three months after it launched, according to the country's deputy finance minister Maung Maung Thein. First Myanmar Investment Co. Ltd. will begin selling its shares on the Yangon Stock Exchange (YSE) by that day, followed by Myanmar Thilawa SEZ Holdings and Myanmar Citizens Bank. Other companies, among them First Private Bank Limited, Great Hor Kham Public and Myanmar Agribusiness Public Corporation, will join at a later date. Five additional companies have applied to list at the exchange and another ten are in discussions with securities companies. In total,...

YSE openingMyanmar’s new stock exchange in Yangon will commence trading on March 25, more than three months after it launched, according to the country’s deputy finance minister Maung Maung Thein.

First Myanmar Investment Co. Ltd. will begin selling its shares on the Yangon Stock Exchange (YSE) by that day, followed by Myanmar Thilawa SEZ Holdings and Myanmar Citizens Bank. Other companies, among them First Private Bank Limited, Great Hor Kham Public and Myanmar Agribusiness Public Corporation, will join at a later date.

Five additional companies have applied to list at the exchange and another ten are in discussions with securities companies. In total, at least ten companies could list during this year.

According to the country’s Securities and Exchange Commission, shares of First Myanmar Investment, a diversified conglomerate and one of Myanmar’s largest companies, will be priced at 20,000 kyat ($16.54) each. The company does not plan to issue any new shares but will move the existing securities of its 6,800 shareholders to electronic accounts linked to the new exchange.

YSE is operated by Japan’s Daiwa Securities and the Japan Exchange Group, which operates the Tokyo Stock Exchange. Both former companies own 49 per cent of the exchange, while the rest is held by Myanma Economic Bank, one of several Myanmar lenders which is still on the US sanctions list due to its close ties to the former junta.

The exchange has a working capital of $31 million. The Securities and Exchange Commission selected Kanbawza Bank to be the settlement bank for the exchange. Kanbawza Bank is owned by Aung Ko Win, a Myanmar business tycoon with close ties to top army generals who made his fortune in jade mining.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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