By-laws necessary to launch Yangon Stock Exchange

The Stock Exchange Commission (SEC) will be formed this year if the government manages to enact security exchange by-laws in time, according to Daiwa Securities Ltd.

The Japanese firm is assisting the Myanmar government to launch its first ever stock market by 2015. Parliament passed the Security Exchange Law in July 2013 but various by-laws must be enacted before the SEC can be launched.

Listing requirements and steps involved to prepare an Initial Public Offering (IPO) for Myanamr companies also have to be set in law.

Public companies that want to list on Yangon Stock Exchange will need to sell at least 10 percent of their shares, and they need to have minimum capital of Ks 500 million (US $0.5 million).

Unlisted public companies also need to abide by the existing Company Acts and the Security Exchange Law, according to Daiwa.

source: Eleven Myanmar

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