FDI companies can trade on YSX

When the new Myanmar Companies Act emerges, a system to allow companies with foreign investment to list on the Yangon Stock Exchange, will be established, said U Htay Chun, a member of Myanmar Securities Exchange Supervisory Commission to Myawady Daily newspaper, yesterday.

“Foreigners are unauthorized to participate in stock trading on YSX under existing Myanmar Companies Act. If a single foreign investment project is included in conglomerate, those public companies are not able to be listed on YSX.

The current listed companies on YSX are public companies without foreign investment.

The amended Myanmar Companies Act will authorize companies with foreign investments for stock trading”, said U Htay Chun.

A total of 7,660 shares were traded on YSX on 20 July, with estimated value of Ks72 million. Currently, only four listed companies – First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB) and First Private Bank (FPB) trade on YSX. On 20 July, share prices at the closing time were Ks 15,500 for FMI, Ks 3,850 for MTSH, Ks9,000 for MCB and Ks24,000 for FPB, according to YSX statistics.

Source: The Global New Light of Myanmar

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