Stock Market: Third Listed Firms Began Trading

Myanmar Citizens Bank, the first bank listed on YSX, traded its shares with far lower base price compared than the first two listed firms, First Myanmar Investment (FMI) and Myanmar Thilawa SEZ Holdings Limited (MTSH), on Friday. 

The third listed firm, Myanmar Citizens Bank’s 10.4 million shares began its trading at 6800 kyats base prices, and the prices reached to 7800 kyats per share as of 11am on Friday. 

As soon as the market opens, the demands for MCB shares have 14 times higher than the supply, according to the YSX.

The bank officials stressed that they are hoping to avoid the sharp swings in value that the two listed firms have been enduring in the market.  

CHAIRMAN, MYANMAR CITIZENS BANK, TOE AUNG MYINT: As the current share prices in the stock exchange market fluctuate very fast, so we plan to start with nearly the same current base price to avoid the current price swing in the market. We don't want to see the prices fall down shortly after being listed. We want to connect with people, build trust and once after people trust us, and then the share prices in the market will increase slowly. 

Stock market has been quiet for about 4 months, and officials called for educative programs for booming stock exchanging market.

EXECUTIVE SENIOR MANAGER, YANGON STOCK EXCHANGE, THET HTUN OO: I think the investor’s education is really important because if they invest for hoping profits in short term, they might face losses. Not only investor education, but also online trading, taxation, as well as foreign investment need to issue to improve stock exchange market in the future. 

Although most of the investors lose trust upon YSX due to the current price plunge, some are still strongly believe the market will sooner grow again. 

CENTRAL EXECUTIVE COMMITTEE, UMFCCI, SEIN HTWE: I would like to suggest the investors to learn the market conditions before they buy or sell their shares. Despite the current price plunge in the market, I believe the market will up again soon. 

Kyi Shein: We need to promote the market. For that, we need foreign investment, online trading which can provide easy access to YSX, and the government support. We are hoping to see improvement soon. 

Meanwhile, MTSH shares drop slightly to 43,000 kyats per share while FMI shares stable at 20,000 kyats per share as of 11am Friday.