Myanmar Automobile Development Public Company Limited will soon register at the Yangon Stock Exchange (YSX) in hopes of becoming a publicly listed company, it is learnt from the company’s second annual general meeting held at UMFCCI on 24th September.
Public companies are allowed to sell and trade shares of stock. There are currently three companies listed on the YSX: First Myanmar Investment (FMI); Myanmar Thilawa SEZ Holdings Public Limited (MTSH) and Myanmar Citizens Banks (MCB).
“Our company will make efforts to be listed at YSX”, said Dr. Soe Tun, the chairman of Myanmar Automobile Development Public Company Limited.
The company has already received opinions from shareholders at the meeting. There are 58 shareholders and over 100 outside shareholders in the company, it is learnt.
Currently, the company is negotiating with Yangon regional government to establish an automobile centre in Hlegu Township, calling on the opinions of local and village administrators.
“We will register to be listed at YSX only after the construction of automobile centre is permitted”, said Dr Phyo Zin Oo, the chief executive officer of this company.
The listed companies at YSX are FMI, MTSH, MCB, Myanmar Agribusiness Public Corporation (MAPCO), First Private Bank and Great Horkan Public Company. Yangon Stock Exchange was opened at Myawady old bank quarter on 9th December, 2015.
Source: Global New Light of Myanmar
