Who: Yangon Stock Exchange
Where: In Myanmar
When: 9 December 2015
Myanmar on 9 December 2015 inaugurated a new stock exchange, named Yangon Stock Exchange (YSX), with plans for six companies to start trading in March 2016.
The six companies that will start the business by March 2016 are:
• First Myanmar Investment Company
• First Private Bank Limited
• Great Hor Kham Public
• Myanmar Agribusiness Public Corporation
• Myanmar Citizens Bank
• Myanmar Thilawa SEZ Holdings Public
Initially, the Yangon Stock Exchange will be open only to Myanmar companies and investors and will eventually allow foreigners to invest in Myanmar shares.
The exchange was set up by local companies in a joint venture with Daiwa Institute of Research Japan and Japan Exchange Group, which operates the Tokyo Stock Exchange.
It is hoped that the opening of stock market will help companies raise capital and fuel economic development in Myanmar, which is one of Asia’s poorest countries. Myanmar’s economy was stunted by decades of international sanctions until military rulers yielded to a civilian government in 2010.