Friday, 6 June 2014

Yangon Stock Exchange to list five companies

The authorities have decided to list just five companies for the launching of Yangon Stock Exchange, scheduled for October 2015, according to the Ministry of Finance.

“We received applications from six local public companies and approved two. We know several corporations are qualified but to ensure quality and compactness of the stock exchange, we have decided to go with a few,” said Dr MaungMaungThein, deputy minister for finance.

He said the listed companies would be strong enough to guarantee profit for investors.

Thus far, the Asia Green Development Bank and the Myanmar Agribusiness Public Corporation have been listed on the stock exchange.

According to the Japanese research team, it has been recommended that public companies are obliged to sell 10 per cent of equity stakes to individual investors and to have at least one hundred shareholders before applying for the stock listing.

The research team has specified for strict financial measures, good governance, corporate responsibilities and the full disclosure of company’s information before the company listing.

The listed companies have to comply with stringent requirements regarding the initial public offering of its shares.

source: Eleven Myanmar
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