Myan­mar Cit­i­zens Bank to list this month

The bank will be­come the first lender to list on the Yan­gon Stock Ex­change with its de­but sched­uled for the end of this month.

The Myanmar Times - - Front Page - HTIN LYNN AUNG htin­lyn­naung@mm­times.com

MYAN­MAR Cit­i­zens Bank will be­come the first lender to list on the Yan­gon Stock Ex­change (YSX) with its de­but sched­uled for Au­gust 26, ac­cord­ing to a no­tice posted to the bourse.

The base price for shares will be an­nounced on the YSX one work­ing day be­fore the list­ing date, the an­nounce­ment said, and Myan­mar Se­cu­ri­ties Ex­change Cen­tre will lead the deal.

“Though YSX has of­fi­cially an­nounced that the bank has been ap­proved as a listed com­pany, trad­ing will not be­gin un­til Au­gust 26,” U Toe Aung Myint, pres­i­dent of MCB told The Myan­mar Times.

All firms plan­ning to list on the Yan­gon Stock Ex­change must pub­lish dis­clo­sure doc­u­ments in ad­vance of their Ini­tial Pub­lic Of­fer­ing (IPO) in­clud­ing de­tails of their re­cent fi­nan­cial re­sults, busi­ness strat­egy and own­er­ship struc­ture.

MCB pub­lished its dis­clo­sure doc­u­ment on Au­gust 12.

The com­mer­cial bank, which was founded in 1991, said it had 10.4 mil­lion shares out­stand­ing and paid-up cap­i­tal of K52 bil­lion as of July 31 this year. Its au­tho­rised cap­i­tal is K75 bil­lion.

MCB will join First Myan­mar In­vest­ment and Myan­mar Thi­lawa SEZ Hold­ings to be­come the third com­pany listed on the ex­change, which opened late last year.

When it opened, six com­pa­nies were named as the first that would list. The other three are Myanma Agribusi­ness Pub­lic Cor­po­ra­tion (MAPCO), First Pri­vate Bank and Great Hor Kham Pub­lic.

MAPCO is aim­ing to list this Oc­to­ber or Novem­ber, the com­pany’s ex­ec­u­tive direc­tor U Ye Min Aung told The Myan­mar Times. – Trans­la­tion by Thiri Min Htun and Zar Zar Soe

‘MAPCO is aim­ing to list this Oc­to­ber or Novem­ber. ’ U Ye Min Aung MAPCO

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