Aug 31, 2015

Yangon Stock Exchange to Begin Accepting Listings

The Yangon Stock Exchange, which is slated to open in December, will begin accepting applications in September for listed companies which will sell shares said Dr Maung Maung Thein, Deputy Minister of the Ministry of Finance and chair of the Securities Exchange Supervisory Commission.

“The work on Yangon Stock Exchange is 97 percent finished. The opening is being postponed from an earlier start date to avoid its launch taking place at the same time as the election. When the time of application is near, the official announcements will be issued,” he said.

He said that if the companies which are interested in doing business and want to apply for the licences, they can do so, provided that they are acting in accordance with the 17 criteria for companies, issued on August 14. Those companies which still need to make changes to comply with YSX standards, can still rectify their shortcomings in advance.

To list on the stock exchange, companies need to have K500 million in paid up capital, recorded profits for two years, a system to prevent insider trading; and at least 100 shareholders, among other requirements.

“People should carefully study to understand the deals before doing anything. The conditions and information about the company in which you are going to invest should be known,” said U Than Saw, chairman of Green Communication Network Co Ltd.

Those people who will resell shares sold by the companies are told to apply for licences, and the issued licences will be announced in the first week of September, according to the Securities Exchange Committee.

At present, there are 85 companies which are operating with the capital of K500 million and above, and 71 companies operating with less than K500 million. Some companies with high investment capital include Kanbawza Co Ltd, Yadanarpon Company and Myanmar Insurance Enterprise.

Source: Myanmar Business Today