Myanmar

Myanmar

Foreign Investors to be Allowed to Purchase Stocks on the YSX

12 Jul 2019

On 12 July 2019, the Securities and Exchange Commission of Myanmar (SECM) issued an announcement, allowing both foreign and local/foreign entities to purchase stock shares on the Yangon Stock Exchange (YSX). The announcement clarifies that the term “foreigner” refers to those who are not citizens of Myanmar, associate citizens, or naturalized citizens; it went on to clarify that the term ‘foreign entities’ refers to joint-ventures or companies registered in another country. The listed companies are only allowed to sell shares submitted and approved by the SECM to foreigners, and the Yangon Stock Exchange will set the date for listed companies to sell the shares. There are currently five companies listed on the Yangon Stock Exchange: First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings Public (MTSH), Myanmar Citizens Bank, First Private Bank, and TMH Telecom Public Company.