Thailand
Myanmar: Securities commission warns against illegal share sales
Myanmar: Securities commission warns against illegal share sales
Tuesday, 12 July 2016 – The Securities and Exchange Commission of Myanmar warned companies against selling shares without its permission yesterday – the second time it has issued such a warning since the country’s first modern stock exchange opened at the end of last year. The commission made an initial announcement through state media in February but public companies have continued to sell shares without permission, U Htay Choon a senior commission member, told The Myanmar Times.
More than 200 businesses in Myanmar are registered as public companies, meaning they are jointly owned by a number of private shareholders. Many such companies freely sold shares to the public until the Yangon Stock Exchange opened, including First Myanmar Investment and Myanmar Thilawa SEZ Holdings which have both since listed on the exchange. Read More?