After scrutinizing submitted application documents and a deliberate listing examination, Yangon Stock Exchange (YSX) approved the Amata Holding Public Co., Ltd. (AMATA) to be listed on YSX under Section 41 (c) of the Securities Exchange Law and Section 7 and 8 of the Securities Listing Business Regulations, on 28 December 2020.
The listing date of AMATA will be made in time for the investors. The base price of AMATA will be announced on the YSX website one working day before the listing date.
AMATA would be the seventh public company to list on the exchange. As per the company’s profile, AMATA is a public holding company and operates a resort in Ngapali Beach, Inle Lake and Bagan and hot air ballooning business with 15 balloons in six cities. AMATA owns 99.99% share from United International Group Co., Ltd and 51% shares from Myanmar Ballooning Co., Ltd.
At present, shares of six listed companies — First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB), TMH Telecom Public Co. Ltd (TMH) and the Ever Flow River Group Public Co. Ltd (EFR) — are being traded on the exchange. In November 2020, the share prices of FMI were closed at K9,900 per unit, MTSH at K3,700, MCB at K8,400, FPB at K22,000, TMH at K2,700 and EFR at K3,900 respectively. Usually, over K60 million worth shares were traded on the exchange every day. The COVID-19 impacts cool down the market at present.
The stock markets worldwide have reported their largest declines since the 2008 financial crisis. Similarly, the local equities market is also scared by the COVID-19 crash, a market observer points out. At present, people are putting money in savings, rather than investing the COVID-19 crisis, he added. YSX held webinar sessions on 26 and 27 December to share the future benefit of stock investment for the investors, in coordination with securities companies (MSEC, KBZSC, CBSC, AYA Trust SC, KTzRH and uabsc).
Next, the Securities and Exchange Commission of Myanmar (SECM) has allowed foreigners to invest in the local equity market from 20 March 2020. The foreign shareholding amount stood at 4,509,475 shares of three listed companies on the exchange as of November-end. Furthermore, YSX launched a pre-listing board (PLB) on 28 September 2020 to provide unlisted public companies with fund-raising opportunities and build a bridge toward listing on YSX, YSX stated.
The YSX was launched three years ago to improve the private business sector. It disseminates rules and regulations regarding the stock exchange and knowledge of share trading through stock investment seminars.
The stock exchange has also sought the government’s support to get more public companies to participate in the stock market and help more institutional investors, such as financing companies, investment banks, and insurance companies, to emerge. Amid the COVID-19 crisis, Myanmar’s securities market has been able to continue operating without stopping trading. According to the annual report released by the exchange, a total of 2.4 million shares worth K13.39 billion were traded on the YSX in 2019, a significant increase compared to the previous year. — Ko Htet (Translated by Ei Myat Mon)
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Source: The Global New Light of Myanmar
