Yangon Stock Exchange officially starts trading

Yangon, March 25 (IANS) Myanmar’s first modern stock exchange, the Yangon Stock Exchange (YSX), officially started trading on Friday, months after it opened in December 2015.

However, only one company – the First Myanmar Investment (FMI), was listed on the exchange for trading, Channel News Asia reported.

FMI currently has more than 6,700 shareholders, and the last trading price about two weeks ago was 35,000 kyats ($30).

FMI head Serge Pun said that the first trading day in YSX is a significant occasion, but it also marked the start of a “very long road”.

He hoped that the new exchange will be a significant contributor to the Myanmar economy and offer an avenue to firms looking for access to capital.

He added that better regulatory framework and investor education are still needed for YSX to truly take off.

–Indo-Asian News Serice

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