Myanmar Agro Exchange Public Lt (MAEX) is striving to be listed at the Yangon Stock Exchange (YSX)11 Oct 2019
Myanmar Agro Exchange Public Lt. (MAEX), which builds and operates Da Nyin Gone Fruit, Vegetable and Fruit Wholesale market, said it has prepared all the requirements to be listed at the Yangon Stock Exchange (YSX).
“With the help from lawyers, we have prepared 18 points, that we needed to complete. We are closely watching the YSX’s progress to list our company. Then, we will file at the YSX to become a listed company,” U Aung Kyi, CEO of MAEX, said.
According to YSX regulations, a company must have at least two years of profit history before it can be listed on the stock exchange. MAEX has provided financial records for the last three years.
The company earned K74 million net profit in 2016 Fiscal Year, K330 million in 2017 Fiscal Year, and K440 million in 2018 Fiscal Year.
The Da Nyin Gone Market includes three halls, housing, banks, parking lots, and a main road. The market went under construction in April 2015, and opened in January 2018. Its located on Khayae Pin Road, which is north of Insein.
MAEX was established as a public company with K25 billion in capital, and allowed to privately sell shares in January 2017. They sold a total of 500,000 shares for K10,000 per share. In 2018, each share split into 10 and the price when to K1,000 per share.
For more information on MAEX, please visit their official website: http://www.maex.com.mm
MAEX could become the sixth company to appear on the YSX. There are currently five companies listed on the Yangon Stock Exchange: First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holding, Myanmar Citizen Bank, First Private Bank and TMH Telecom Public.
The government is working on a plan to allow foreigners to conduct trading on the YSX next year. Visit the YSX official website for more information: http://ysx-mm.com
(Myanmar Business Today: https://www.mmbiztoday.com/articles/maex-prepares-file-yangon-stock-exchange )