Launch of Myanmar bourse delayed
I look at Myanmar with a great deal of curiousity, the question in my mind are
- IF they are able to start their exchange what impact will that have on Singapore and Thailand’s ability to attract companies doing business there to list on their respective exchanges?
- Which brokers in the region are active in pursuing licenses in Mynamar?
- Will we then begin to see more cross-border transactions?
- How can foreign investors participate if the currency/central bank isn’t properly established yet?
“Only about five companies will be listed at the beginning of the stock market,” he said.
To date, three companies — Asia Green Development Bank, Myanmar Agribusiness Public Corporation and First Myanmar Investment Company — have committed to list on the bourse, according to media reports.
The Myanmar Security Exchange Commission said 57 companies had applied for licences in one of the four categories offered.
Twenty companies bid as underwriters, two to be dealers, five to be brokers and 30 are seeking to be registered as consultants.
Myanmar’s central bank signed a joint venture agreement in September 2013 with Japan Exchange Group and Daiwa Institute of Research, the research arm of Daiwa Securities Group, to set up and run the Yangon Stock Exchange.
Source: Bangkok Post