Myanmar Plans Second Stock Exchange For Public Companies

The new exchange will be set up as a pre-listing board with looser listing requirements, and serve as a launchpad for listing on the YSX.

The SECM (Securities and Exchange Commission of Myanmar) is planning to set up a second stock exchange in the country for non-listed public companies, reports Myanmar Times.

The new exchange will be set up as a pre-listing board with looser listing requirements to allow registered public companies in Myanmar to raise capital by selling their shares. SECM chair U Maung Maung Win said the new secondary listing board will help mostly SMEs.

Only six companies are currently listed on the YSX because most of the 260 registered public companies in Myanmar do not yet meet the listing criteria.

The new board is intended to serve as a launchpad for these companies to list on the YSX.

Plans to establish a second stock exchange for public companies called the ‘Myanmar Public Companies Board’ started last year. The SECM had said it would not specify standards for companies that want to list on the new board, but companies would be required to submit financial information and plans for future public offerings.

The new exchange implementation will require the approval of the Ministry of Finance, Planning, and Industry and be supervised by the SECM.