Myanmar Agro Exchange Public Limited (MAEX) may soon become a listed company on the Yangon Stock Exchange (YSX).
Stock trading was approved for MAEX by the Securities and Exchange Commission of Myanmar under the Ministry of Planning and Finance on 11th Jan 2017, but there are still technical and legal changes to be accomplished.
“We will make efforts to be listed on YSX as we have already established ourselves as a public company. We will prepare to be in accordance with the rules and regulations of YSX,” said Director U Thurein Aung from MAEX.
Currently, four companies — First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB) and First Private Bank (FPB) — are trading shares on YSX. YSX gave a trading qualification to these securities: Myanmar Security Exchange Center Company Limited; KBZ Stirling Coleman Securities Co., Ltd; CB Securities Ltd; AYA Trust Securities Co., Ltd; KTZ Ruby Hill Securities Co., Ltd and Amara Securities Co., Ltd.
Shares of MAEX can now be purchased through local securities companies at a share price of Ks10,500.
The company was formed in 2015 with 21 original shareholders, putting in investments of Ks15.72billion. The company, which is mainly engaged in construction, is developing the fruits, vegetable and flower wholesale market and also preparing for opening of cold storage warehouses, it is learnt.
Source: Global New Light of Myanmar
