Joint venture to invest Ks 32 billion in stock exchange

A joint venture between Japan’s Daiwa and a local Myanmar company still to be disclosed will invest Ks 32 billion to establish a stock exchange in Myanmar.

The Deputy Minister for Finance Maung Maung Thein told media on Saturday that the Myanmar company will retain 51 percent shares while Daiwa will retain the rest.

“The plan for the stock exchange will start in 2014. We planned to start it the stock exchange in October 2015. We need further negotiations,” said Maung Maung Thein.

At present, Myanmar has 105 public companies but only a few companies can be listed in stock exchange, he added.

The office of the new stock exchange will be located in former head office of Myawady Bank on Kanna Road.

Source: ELEVEN Myanmar

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