Feb 10, 2015

60 Companies Bid for Stock Licences

Sixty private security companies have so far bid for service provider licenses for establishing Myanmar’s first ever stock exchange in Yangon, according to the Ministry of Finance. With Deputy Finance Minister Maung Maung Thein as its chairman, the Securities and Exchange Commission started inviting applications last month for service providers for the bourse, granting four kinds of services licences, including underwriters, dealers, brokers and consultants. The winners for the service licenses are expected to be announced in mid-April. The Yangon Stock Exchange is scheduled for October this year. Under an agreement signed in Naypyitaw, the Yangon Stock Exchange Joint Venture Co Ltd will be set up with Myanmar Economic Bank (MEB) sharing 51 percent, Japan’s Daiwa Institute of Research Ltd 30.25 percent and Japan Exchange Group 18.75 percent. Source: Myanmar Business Today