Nov 6, 2015

Initial list for Yangon Stock Exchange includes FMI, Myanmar Citizens Bank and Thilawa Public Co

The initial list of companies to join the Yangon Stock Exchange includes FMI, Myanmar Citizens Bank, and Thilawa Public Co, according to the Securities and Exchange Commission of Myanmar (SECM) on November 3.

“Nine companies that might be in the list were chosen initially. More are still applying. We will select the best ones from among them. We have not closed the applications. It will always be open. Nine companies are being scrutinised in the first group. If more companies come, we will accept and scrutinise them, too. Yesterday, we called all of them and made introductions. Today, we called three companies – FMI, Myanmar Citizens Bank and Thilawa Company, and we were all satisfied,” said Dr Maung Maung Thein, chairperson of the SECM.

The companies that will be allowed to sell stock shares in the Yangon Stock Exchange will be announced on the opening day of the stock exchange.

Listing criteria for the Yangon Stock Exchange were announced in August.

The Yangon Stock Exchange will open in first week of December, after the election.

It will be opened in the refurbished Myawady Bank building, which is over 80 years old. The Yangon Stock Exchange was founded by the Myanmar Economic Bank, Daiwa Bank and Japan Exchange Group, and the initial investment volume was Ks 31 billion.

When the Yangon Stock Exchange opens, share dealing orders will be matched once at 11am and once at 1pm, according to SECM.

Source: Eleven Weekly Media