The backers of the Yangon Stock Exchange are putting together a crash course to introduce it to the public. Dr Maung Maung Thein, chair of the Securities and Exchange Commission of Myanmar, said in the coming months, various stakeholders will be given a look at how the systems behind the exchange work.
“We will introduce to the media how the systems of IT processes of the Yangon Stock Exchange work through a press show on around August 21,” he said on the sidelines of the Financial Inclusion Conference on August 2.
“After that, we will introduce the system to business leaders like Mr Serge Pun and then university students who are studying economic-related majors can observe our stock exchange,” he said.
“Then, the public can visit once or twice a week before it opens.”
The market’s targeted launch had previously been pushed back a month to the end of November or early December to avoid clashing with the November 8 election. Some critics have questioned whether it is possible to launch a fully operational exchange this year, as there is still much to do to prepare the market.
Dr Maung Maung Thein said the Securities and Exchange Commission would like to grow public awareness of the system as there has been no modern stock exchange in the country in the past. The commission also wants to put the stock market on the radar of potentially interested companies and investors to encourage the market is active.
“We can’t share full knowledge in the Yangon Stock Exchange immediately with all 51 million people in the country, but we can do it step by step, and these programs are a part of these steps,” he said.
There are over 200 public companies in the country, but most public companies are not ready for listing. Dr Maung Maung Thein said that few companies will be listed in the exchange’s early years.
So far, three companies have announced they intend to list on the exchange, though one of them, MAPCO, may take up to a year to list after the exchange launches.
The listing criteria and the final list of service providers has also not been released, though could arrive soon.
The Yangon Stock Exchange will be located in the former Myawaddy Bank headquarters at the corner of Sule Pagoda Road and Merchant Road in downtown Yangon.
Source: Myanmar Times