MSEC, DICA to screen companies for YSX listing
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Companies seeking listing on the Yangon Stock Exchange will need to pass first screening by the Myanmar Securities Exchange Commission (MSEC) and Directorate of Investment and Company Administration (DICA), said Deputy Finance Minister Maung Maung Thein.
They are required to submit business plan to the MSEC and then proceed with getting the license to be public companies from the DICA.
“If the companies produce their prospectus, they will have to first come to us and then the DICA. All prospectuses will be screened and if they qualify enough to benefit the public, DICA will move things along with the registration. Illegal and unauthorized actions will be liable up to five years of prison, as endorsed by the law,” said Maung Maung Thein.
According to the DICA, among 210 public companies, some have already sold substantial amount of shares to the public such as Myanmar Agribusiness (MAPCO), First Myanmar Investment (FMI) and Myanmar Thilawa SEZ Holdings (MTSH).
