August 19, 2016

Yangon Stock Exchange to debut on 9 December

THE Yangon Stock Exchange will launch its operations on 9 December with 10 underwriting companies, according to a statement released by the Securities and Exchange Commission of Myanmar (SECM).
At a meeting with the 10 tentatively selected underwriting companies on Monday in Yangon, U Maung Maung Thein, the chairman of the SECM and deputy minister for finance, urged the companies to pay their licencing fees by December in preparation for the launch date.
There will be about five companies listed in the YEX, he added.
A license for underwriting costs K15 billion (US$11.5 million); a dealing licence costs K10 billion ($7.7 million); a brokerage licence costs K7 billion ($5.4 million) and a consultancy licence costs K30 million ($23,000) in up-front capital, according to the deputy minister.
The Yangon Stock Exchange, Myanmar’s first, will have the abbreviation YEX.
Japan’s Tokyo Stock Exchange and the Daiwa Institute of Research Ltd signed an agreement with the Myanma Economic Bank to help establish and run the stock exchange in December 2014.
The market will be run by the Yangon Stock Exchange Joint-Venture Company, with a 51 percent stake owned by the Myanma Economic Bank under Myanmar’s Finance Ministry and the remainder owned by the Japanese partners.


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