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

Investors look at computer screens showing stock information at a brokerage house in Shanghai. Photo: Reuters

In a corporate history-making event of sorts, the Yangon Stock Exchange will start operations in December with a small number of about 10 companies making their debut on the stock market in untapped frontier market Myanmar.

Deputy finance minister Dr Maung Maung Thein had told media that the stock exchange will open in the first or second week of December.

Yangon Stock Exchange is a joint venture between Myanmar Economic Bank, Daiwa Securities Group, and Japanese Stock Exchange.

Rules and action plans for selling on the stock exchange have already been set and there are nine companies selected as players, said Dr Thein, chairperson, Credit Certificate Supervisory Commission of the Ministry of Finance.

The commission has also developed the required infrastructure, regulatory body and cooperation with banks.

Nearly 57 companies had applied for a license of which 10 firms have been nominated to trade on the bourse.

To get shortlisted, firms had to meet the commission’s listing criteria before attempting to float initial public offering (IPO) which allows ownership of shares to the public.

The  selection of the companies was based on criteria such as a minimum of K500 million in paid-up capital and a 100 shareholders listed.

On the day of opening stock exchange, the public limited companies (shortlisted) will be announced, he said.

U Soe Thein, deputy managing director, Asia Green Development Bank, said, initially, the stock exchange market will not be so active but will slowly improve as days go on. AGD Bank is looking at a partnership with the stock exchange in areas such as improvement of corporate governance and also technology intervention.

He emphasised the need for transparency and corporate governance, particularly when the stock exchange grows and becomes busier like in other countries.

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Singapore Reporter/s

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.

Singapore Reporter/s

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.