Nay Pyi Taw, Nov 15 (IANS) Myanmar will launch Yangon stock exchange market, the country’s first stock exchange, on December 9, months before the term of the present government expires in March next year.
The process of opening the stock exchange will continue no matter who is in office as the country needs such an institution, Xinhua quoted Deputy Finance Minister Maung Maung Thein as saying in Yangon on Saturday.
According to Thein, Myanmar’s stock exchange is expected to start trading securities with five or more listed companies.
Thein, who is chairman of the Securities and Exchange Supervisory Commission, has urged firms to make collaborative efforts in ensuring the development of the stock market.
As a strategy, Yangon Stock Exchange is set to start as an equity market before moving towards derivative market and future market, he said.
It will be operated by the Myanmar Economic Bank in partnership with Japan’s Tokyo Stock Exchange and Daiwa Securities Group.