Stock Market: SECM Attract Public Companies To Play YSE
Myanmar commenced its stock market in December 2015, and at present, four listed companies are running stock trading through the security companies. In order to involve more public companies in the market, a seminar on Stock Exchange Development was held at UMFCCI in Yangon, Thursday.
During a year of commencing the Yangon Stock Exchange in December 9th, 2015, four listed companies; FMI, Myanmar Thilawa SEZ Holdings Public Ltd., Myanmar Citizens Bank Ltd. And First Private Bank Ltd. are trading through six security companies.
Security and Exchange Commission of Myanmar (SECM) is helping the public companies to involve in the stock market.
Official from SECM assured that the sound rules and regulations are needed to develop capital market in Myanmar.
Commission member, Security & Exchange Commission of Myanmar (SECM), Htay Chun: The stock market is a new subject for both investors and companies. The less knowledge in stock market, regulatory issues and process to be listed companies are the main challenges for them. So, the SECM is trying to keep in touch with the public companies for their smooth transition to listed companies.
There are 280 public companies founded in line with the Myanmar Companies Act, according to the data of SECM.
The public companies needed to be matched with 17 criteria to be listed companies and to trade shares with the public.
Commission member, Security & Exchange Commission of Myanmar (SECM), Htay Chun: But we strongly filter the public companies to be listed companies as we emphasis the quality drive. In that case, the investors could have trust for their investment in stock market. We have to take care to get strong security business as if one of the listed companies topple in the market, the impact can effect to the remaining listed companies too.
Public companies can initiate share trading only after submitting the company’s prospectus to SECM and after seeking the company registration and business commencement certificate from DICA.