The YSE will be launched on 9th Dec 2015. The name of the 10 firms that leaked out are:
- AYA Bank’s wholly owned subsidiary, AYA Trust Securities Company. Aya Bank is owned by U Zaw Zaw of Max Myanmar Group.
- Co-operative Bank’s wholly owned subsidiary CB Bank Securities
- Daiwa Securities and state-owned Myanma Economic Bank’s joint venture subsidiary, Myanmar Securities Exchange Centre
- Global World Securities, an Asia World affiliated company
- Green Circle Company, known in Myanmar for its Ve Ve drinks brand, in a joint venture with Hong Kong-based Pins Capital, called Expert Investment Securities
- Innwa Bank linked Aung Myint Mo Min Securities
- KBZ Group and Singaporean firm Stirling Coleman Capital’s joint venture company KBZ Stirling Coleman Securities
- Loi Hein Company and Thai firm KT ZMICO’s joint venture subsidiary KTZ Ruby Hill Securities
- United Amara Bank’s wholly owned subsidiary Amara Securities
- Young Investment Group’s wholly owned subsidiary, Union Trust Securities Company
Of the above securities companies – only 3 have registered with the company registrar here in Yangon – the are Ayatrust Securities Company Limited (registered on 6/11/2015), Union Trust Securities Company Limited (registered on 13/10/2015) and KBZ Stirling Coleman Securities Co., Ltd. (registered on 07/10/2015).
The company registration date shows that only the 3 above firms were certain that they will get the underwriter’s licence – the rest were probably informed by the YSE only in the last 2 weeks.
Visibly absent from the lineup are Yoma Strategic Holdings and FMI (Serge Pun’s group where the CEO Melvyn Pun was formerly the Managing Director, Head of Asia Ex-Japan Corporate Solutions Group, Goldman Sachs in HK) and Htoo Group. Normally these conglomerates have a finger in every pie in Myanmar.