Myanmar to launch first stock exchange in 2015

Yangon, June 1:

will launch its first stock exchange by October 2015 and its stock exchange will be operated by the Myanmar Economic Bank in partnership with Japan's Tokyo Stock Exchange and Daiwa Securities Group, finance minister said Sunday.

The three components for the emergence of a capital market -- formation of a securities and exchange commission, launch of Myanmar's first stock exchange and preparation by companies to be listed -- are taking place simultaneously, said Deputy Finance Minister Maung Maung Thein in a seminar here.

He said six private companies with impressive business performances have proposed to be listed on the stock exchange and the signing for the deals will follow, Xinhua reported.

The minister said only a small number of companies will be allowed to list on the stock exchange initially to highlight the quality.

Myanmar enacted the Securities and Exchange Law in July 2013 to pave way for the launch of the country's first stock exchange.

IANS