(The following is the clarification of U NyoMyint, Senior Managing Director, KBZ Stirling Coleman Securities Co Ltd, over securities trading at the Yangon Stock Exchange.)
The Yangon Stock Exchange was inaugurated on 9 December with plans for six companies to start trading in March. The companies are FMI, Myanmar Thilawa SEZ Holdings Public Ltd, Great HorKham, Myanmar Citizen Bank, Myanmar Frist Private Bank and MAPCO.
Ten companies have been chosen to operate as underwriter companies, including KBZ SC, MSEC, AYA Trust, CB Securities.
KBZ Bank has been chosen as the Authorised Fund Settlement Bank of the Yangon Stock Exchange by the SECM.
Out of the six listed companies, shares of FMI and Myanmar Thilawa SEZ Holdings Public Ltd are targeted to be sold out to public in early March 2016.
KBZ and MSEC have opened securities accounts for FMI and have also been in talks with AYA Trust and CB Securities to provide necessary services to Myanmar Thilawa SEZ Holdings Public Ltd.
Trading shares at the Yangon Stock Exchange will be available using an online system. In order to participate in online trading, companies need to open securities accountswith the underwriter companies. When a securities account is opened, the underwriter companies will save securities of original shareholders and will give login IDs and passwords for the securities so that shareholders can conduct online trading without worrying about losing securities or fraud.
Those who want to open the securities accounts at underwriting companies need to first open bank accounts in person.
When those who have opened KBZ Bank
accountstrade securities online, KBZ, the cash settlement bank, willsettle cash in real-time transactions.
Generally, those who want to trade shares can open several securities accounts at underwriting companies. However, to check financial balances quickly, traders should open securities accounts at one underwriting company in order to get the chance to check consolidated financial statements online. —The Mirror