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February 26, 2018

Myanmar Citizens Bank shares to be sold in July

Vistiors are seen outside Yangon Stock Exchange (YSX) in Yangon.
Vistiors are seen outside Yangon Stock Exchange (YSX) in Yangon.

THE Myanmar Citizens Bank plans to start selling its shares at the Yangon Stock Exchange (YSX) next month.
“The Myanmar Citizens Bank is the third listed company at the YSX. The bank had to carry out many requirements in preparation for share trading because it has little experience in selling shares,” said a representative of the Myanmar Citizens Bank.
The Myanmar Citizens Bank was founded in 1991 and started to sell its shares in 1996. There are a total of 19 branches of the Myanmar Citizens Bank, and it has a capital investment of K53 billion (US$44,725,738). The bank is slated to open 31 branches over the next five years. Ten per cent of its shares are known to be owned by the Ministry of Commerce.
The shares currently being sold at the YSX have attracted the attention of more investors than expected. Thus, other companies that have been approved to be listed on the YSX have begun preparing for share trading.


NG/Union Daily


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