The share trading of Myanmar Thilawa SEZ Holdings (MTSH) will be suspended from 31st to 3rd November, including non-exchange transaction transfer (NETT). Trading will resum on 4th November after splitting of the shares, according to an announcement from the Yangon Stock Exchange (YSX).
The proposed share split of one existing ordinary share into 10 shares was approved by shareholders by way of a special resolution at the Extraordinary General Meeting (EGM) of the company held on 23rd October 2016, the MTSH announced.
There are a total of 3,892,915 listed shares of MTSH on the YSX.
The number of shares will total 38,929,150 after the split. An ordinary shareholder who bought one share will now own ten shares.
The value of each share will be changed from Ks10,000 to Ks1,000.
The split of MTSH’s stock is aimed at boosting the share trading volume at YSX. The price of MTSH’s share was Ks49,000 per share on 25th October, whereas the shares of First Myanmar Investment (FMI) is trading at Ks17,000 and that of Myanmar Citizens Bank, at Ks9,100, it is learnt from YSX.