A total of 10 securities companies, awarded underwriting licenses, have been selected to act as players in Myanmar's first ever Yangon Stock Exchange (YSX) which was officially launched on Wednesday, December 9, 2015. The Directors of PINS Capital was invited to witness the Grand Opening Ceremony of YSX and to attend the ceremony dinner.
Expert Investment Securities, one of the 10 securities companies, which is in a joint venture with Green Circle Company, known in Myanmar for its VeVe drinks brand and Hong Kong-based Pins Capital, has granted four kinds of services licenses -- underwriters, dealers, brokers and consultants, will play an important role on the economy development for Myanmar in the near future.
First Six initially local companies including First Myanmar Investment Company, First Private Bank Limited and Myanmar Citizen Bank, etc., have been approved to list on Yangon's new stock exchange, with trading expected to begin in February or March next year.
YSX is marked as a milestone to start with emergence capital market, which is in the government's latest move to convince the world that the once-sanctioned nation is open for business. Dr Maung Maung Thein, the charismatic deputy finance minister in charge of the new bourse, described it as a "monumental achievement" that would help firms expand.
The directors of PINS Capital are full of optimism for the YSX and forecast that Myanmar has a great potential to become large capital market in ASEAN region.