Myanmar to launch stock exchange by Oct. 2015: media

June 5, 2014 Leave a comment

Myanmar to launch stock exchange by Oct. 2015: media

YANGON, June 1 (Xinhua)– Myanmar is ready to launch stock exchange by October 2015 and the related plan is progressing on schedule, state media quoted a government’s financial official as saying on Sunday.

Deputy Minister of Finance Maung Maung Thein told a seminar in Yangon that the three components for emergence of a capital market are taking place simultaneously, which are formation of a securities and exchange commission, launch of Myanmar’s first stock exchange and preparation by companies to be listed.

He said the Yangon Stock Exchange will be operated by the Myanmar Economic Bank in partnership with Japan’s Tokyo Stock Exchange (TSE) and Daiwa Securities Group and the signing of a joint venture agreement will take place soon.

Six private companies with impressive business performances have proposed to be listed on the stock exchange and the signing for the deals will follow, said the official.

He said only a small number of companies will be allowed to list on the stock exchange initially to highlight the quality.

Myanmar enacted the Securities and Exchange Law in July 2013 to pave way for the launch of the country’s first stock exchange.

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