DICA warns public companies to seek permission from SECM before share trading

THE Directorate of Investment and Company Administration (DICA) issued an announcement on Tuesday that public companies have to seek permission from the Securities and Exchange Commission of Myanmar and register at DICA before they can engage in the trading of shares.

When public companies seek a business commencement certificate they must present an incorporation certificate together with the other necessary business documents, according to DICA.

Public companies can commence share trading only after submitting the company’s prospectus to SECM and after seeking the company registration and business commencement certificate from DICA. Public company leaders that sell shares without receiving the approval of SECM may be liable for a one-to-tenyear imprisonment term and/or fine.

Source: Global New Light of Myanmar

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