MAPCO prepares to sell shares

Writer: 
Nilar

The Myanmar Agribusiness Public Corporation (MAPCO) says it is preparing to sell its shares at the Yangon Stock Exchange (YSX).

MAPCO plans to sell the shares under the electronic trading system at the YSX.

The Myanmar Securities Exchange Centre will soon open a securities account for it.

MAPCO started restructuring profit-sharing arrangements for its stakeholders and preparation for opening individual securities accounts for them.

The listing criteria for the YSX were announced in August.

The exchange was officially opened in December 2015, after the election.

It is in the refurbished Myawady Bank building, which is over 80 years old. The YSX was founded by the Myanmar Economic Bank, Daiwa Bank and Japan Exchange Group, and the initial investment volume was Ks31 billion.

Myanma Economic Bank and Daiwa Institute of Research Ltd formed the exchange centre with the goal of establishing a stock exchange in 1996.

Myanmar enacted the Securities and Exchange Law in 2013.

Myanmar Thilawa SEZ Holdings Public Ltd was listed on the YSX in May. Myanmar Citizens Bank Ltd was listed on the YSX in August.

The stock exchange’s official listed companies are the First Myanmar Investment Company, Myanmar Thilawa SEZ Holdings Public Ltd, Myanmar Citizens Bank Ltd and First Private Bank Ltd.

Translated by Tun Tun Win