DICA allowed AMATA Holdings Public Company Limited and TMH Telecom Public Company Limited to sell the shares over the counter which is different from the Yangon Stock Exchange (YSX)

In addition to 59 companies that have already been selling shares, the Directorate of Investment and Companies Administration (DICA) has allowed two more companies to sell shares, according to its statements made on October 1, 2018. 

The two companies are AMATA Holding Public Company Limited and TMH Telecom Public Company Limited. They can sell shares “over the counter,” which is different from the Yangon Stock Exchange (YSX). Since these companies are not yet listed on the YSX, this is not an announcement for an Initial Public Offering (IPO).

“This is a public announcement, and we have no plan to allow additional companies to sell shares at this time,’’ said U Myo Min, Director of Companies Division under DICA.

The reason they announce which companies are approved to sell shares, even though they are not listed on the YSX is to prevent financial fraud. The Security Exchange Supervisory Commission has warned that some companies are enticing the public to buy shares via online mediums promising high-returns. Authorities and others in the industry have issued warnings about such suspicious and illegal businesses in the past.

In accordance with Myanmar Companies Act, DICA has allowed 55 companies to sell company shares on August 8, 2017, and 4 companies on September 17, 2017. With the additional 2 listed in the October 1st announcement it brings the total to 61 companies.

The department said that it will make future announcements when more companies are approved to sell shares. Other than DICA’s official list, no company is entitled to sell share. It also reminds the investors to check the name of the company whether it is in the approved list.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/dica-allows-two-additional-companies-sell-shares )

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