Myanmar's stock exchange began trading on Friday with a single listed company some three months after it opened in the country's commercial capital Yangon.
The first long-awaited initial public offerings on the Yangon Stock Exchange will not include any new shares, said underwriters, while the first company to raise fresh capital is unlikely to list until July.
First Myanmar Investment Co., a conglomerate controlled by businessman Serge Pun, is aiming to be the first publicly traded company on the Myanmar stock exchange.
Former pariah state Myanmar will launch its first stock exchange on Wednesday, marking the next stage in the rehabilitation of a country basking in the glow of strong foreign inflows and a new pro-business regime.
Citigroup Inc and Standard Chartered Plc are set to advise Myanmar on its first credit rating, according to people with direct knowledge of the matter, paving the way for the country to issue its maiden international bond.
Giant software company FPT announced yesterday that it will provide fixed telecoms and internet services in Myanmar, becoming the first 100-percent foreign-owned firm to operate in telecoms in the country.
The first phase of the HAGL Myanmar Centre, a US$440-million trade centre, hotel and service office complex, was opened in Myanmar on June 23.
Vietnamese real estate developer Hoang Anh Gia Lai Co (HAG) and Singapore-based Rowsley Ltd, which is partly owned by billionaire Peter Lim, decided to call off their agreement to build a US$550-million mixed-use development in Yangon, Myanmar, the two companies told media.
OCBC Bank has been given the green light to open a branch in Myanmar - one of the first three foreign banks to win the right to enter the fast-emerging market.