Scramble behind the scenes as Yangon Stock Exchange nears launch
Just a week before Myanmar’s first modern stock exchange is set to open on 9 December, a much-delayed announcement on the names of securities companies has not yet been made, underwriters have not received licences and domestic IPOs seem a distant dream.
Ten companies have been offered conditional underwriting licences for the Yangon Stock Exchange, but several say they are not yet ready to operate.
According to sources within a number of the companies, those offered provisional licences include AYA Bank, CB Bank, Daiwa Securities, Asia World affiliate Global World Securities, Innwa Bank-linked Aung Myint Moe Min Insurance, Loi Hein Company, KBZ Bank, United Amara Bank and Young Investment Group.
