Myanmar opened its new stock exchange – the Yangon Stock Exchange (YSX) on December 9, 2015. However, despite a grand opening and a reported $24 million investment, it will not be operational until February 2016 at the earliest. Thee YSX was founded by the state-owned Myanmar Economic Bank, Daiwa Securities and the Japan Exchange Group, which operates the Tokyo Stock Exchange.
The YSX launch marks the latest economic milestone in the rapid modernisation of Myanmar. Six groups have been approved for listing on the exchange but delays have pushed back the launch of active trading. The Japan-backed Thilawa Special Economic Zone and First Myanmar Investment are among the first companies to be listed on the YSX.
“In the longer term, we hope that the stock market can lead to the development of a debt capital market, which may be of interest to even international companies,” Petter Furberg, chief executive of Telenor Myanmar, said.