Yangon Stock Exchange opens with 6 firms, trading to start in Feb 2016

By Juliet Shwe Gaung

December 9, 2015

In a big first in Myanmar, the Yangon Stock Exchange opened today with half a dozen listed companies including First Myanmar Investment Co Ltd, First Private Bank, Myanmar Citizen Bank, Myanmar Thilawa Special Economic Zone, Myanmar Agricultural Business Public Corporation and Great Horkhan.

The six companies were chosen out of the 200-odd companies that had applied to be on the exchange. Originally the exchange was expected to be ready for business in October and the opening was subsequently deferred to December.

Dr Maung Maung Thein, chairman, Securities Exchange Commission, said, the listed companies have been advised to take it slow. “The Yangon Stock Exchange will continue to work on the formalities of trading on the exchange. We have told the companies to take time to sell their shares (on the exchange),” he said.

According to him, the actual trading would start around February 2016.

The underwriter license has been granted to a company, which is a joint venture between Kanbawza and Stirling Coleman Capital Limited; and an independent corporate finance advisory firm headquartered in Singapore. Nine other companies are in the process of being selected as underwriters.

Trading hours of the Yangon Stock Exchange will have two matchings in a day with order entry periods being from 9:30 to 11:00 and 11:00 to 13:00.

The Myanmar Securities Exchange Centre (MSEC) is a joint venture between the state-owned Myanmar Economic Bank and Daiwa Securities and Japan Exchange Group, a company that operates the Tokyo Stock Exchange.

Dr Maung Maung Thein said, the MSEC is also planning to promote the stock exchange and educate the public about it .

Meanwhile, the current Company Act is being revised to allow foreign investors to trade in Myanmar stocks.

Some of the Yangon Stock Exchange’s listing criteria for a public company is in accordance with Myanmar Securities and Exchange Law. According to the provisions, it should be a registered company, conducting business in line with the public company’s procedures, and have at least 100 share holders. Also, it should have a paid-up capital shall be the minimum of K500 million on the date of application.

Also Read:

Yangon Stock Exchange to go live in December with a bunch of 10 companies

57 firms keen on YSX Licence in Myanmar

SEC to require 10% collateral for YSX

MIIL eyes all four securities licences for Yangon Exchange

 

 

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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