August 19, 2016

Co to sell YSX shares to announce in March


THE name of the first company to be permitted to sell shares on the Yangon Stock Exchange (YSX) will be revealed at the start of trading in March this year, according to the Myanmar Securities and Exchange Commission (SEC).
A talk was held in Yangon at the headquarters of the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) on 24 January under the title ‘How to Invest in Stock Shares’.
Dr Maung Maung Thein, chairperson of the Myanmar Securities and Exchange Commission (SEC), explained that the six companies registered on the YSX had to compete in order to be the first company to get permission to sells shares on the market.
“The companies that will trade on the stock market were instructed to compete with each other. They’ll have finished their target by the last week of February. The announcement [of which company has been awarded permission to first sell shares on the YSX] won’t be made through any other channels,” he said.
Trading on the YSX will commence during the first week of March, while the companies that will take responsibility for the selling of shares on the exchange will be KBZ Stirling Coleman Securities (KBZSC), the Myanmar Securities Exchange Centre and Ayeyar Securities.
“Among those companies wishing to sell shares, one can select the company they like, which have underwriter licenses. Those wanting to buy shares must also first open an account with the securities company,” said Dr U Nyo Myint, senior managing director of KBZ Stirling Coleman Securities (KBZSC).
A joint venture between the Myanmar Economic Bank, which has 51 percent ownership, and the Japanese Stock Exchange Committee and Japan Daiwa Company, which have 49 ownership ownership, the YSX was officially opened on 9 December in the building of the old Myawaddy Bank.
The six companies permitted to list on the YSX are First Private Bank Ltd, First Myanmar Investment, Great Hor khan Public, MAPCO, Myanmar Citizens Bank and Myanmar Thilawa SEZ Holdings Public.—Myitmakha News Agency


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