Second listed company to start trading on Myanmar' Yangon Stock Exchange in May

GMT 15:06 2016 Friday ,29 April

Arab Today, arab today Second listed company to start trading on Myanmar' Yangon Stock Exchange in May

Yangon Stock Exchange
Yangon - XINHUA

Myanmar Thilawa SEZ Public Limited (MTSH) will start trading on Yangon Stock Exchange (YSX) in second week of May as a second listed company , U Win Aung, chairman of MTSH, told Xinhua Friday.

Early this month, Dr.Maung Maung Thein, current chairman of Myanmar Securities Exchange Commission (SECM) said that MTSH would start trading on April 29 . But the date has been delayed.

MTSH is the biggest public company in Myanmar with 17,990 shareholders. It was established by a Myanmar Consortium comprising the Nine Promoters for the purpose of participating in the Zone A Project which is an Industrial Park Development to be located within the Thilawa Special Economic Zone.

The Zone A Project, located on 396 Hectares, is being undertaken by Myanmar Japan Thilawa Development Limited (MJTD), which is a Joint Venture company, MMS Thilawa Development Company Limited (MMSTD), Thilawa Special Economic Zone Management Committee (TSMC) and Japan International Cooperation Agency (JICA).

MMSTD is formed by a Consortium of Japanese Developers which includes Marubeni Corporation, Mitsubishi Corporation and Sumitomo Corporation. Our company has entered into a joint venture agreement with them in connection with the establishment of the JV Company to undertake the development, construction, marketing, sales and operation of the Zone A project.

Other listed companies, Myanmar Citizens Bank and First Private Bank, will follow MTSH as soon as possible, according to Dr.Maung Maung Thein, president of the country's Securities Exchange Commission ( SECM).

The YSX officially began trading on March 25, with only one listed company, FMI, available for transactions. At present, there are five securities companies providing services as underwriters on YSX while another five firms are waiting to be awarded licenses.

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