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4th listed company to start securities trading in Myanmar

Xinhua, January 2, 2017 Adjust font size:

The fourth listed Myanmar company will start securities trading at the Yangon Stock Exchange (YSX) on Jan. 20, the YSX said in a statement on Monday.

Securities and Exchange Commission of Myanmar (SECM) approved First Private Bank, one of the oldest local banks, as the fourth listed company late last month.

The bank, established in 1992, has also become the second local bank listed on the YSX, with an authorized capital of 100 billions kyats (over 73 million U.S. dollars), and it will announce its price per share prior to its starting day.

The SECM also approved a local securities company, Amara Investment Securities Co.,Ltd, in December as a new securities broker.

The YSX began trading on March 25 last year with only one listed company, First Myanmar Investment (FMI), available for transactions.

At present, there are three listed companies - FMI and Myanmar Thilawa SEZ Holdings Public Limited (MTSH) and Myanmar Citizen Bank, and five securities companies which are providing services as underwriters on the YSX.

Although the YSX had drawn much interests from local investors in the initial period, the securities trading and per share prices declined since late last year. Endit