OFF INTO THE WILD WET YONDER How does this...
Daiwa Securities and TSE Team Up for Yangon Stock Exchange
Myanmar enacted a Securities and Exchange Law in September 2013 to lay the groundwork for its first stock exchange, now set to kick off in October 2015.
The Tokyo Stock Exchange (TSE) and Daiwa Securities Group Inc., in cooperation with the Myanmar Economic Bank, hope to launch the Yangon Stock Exchange (YSE) listing six private companies with “impressive business performance.” In a move to apparently highlight the quality of the exchange, only a slim number of smaller companies will be invited to be listed.
One can only imagine the hiccups, slips, and twists this endeavor will no doubt attract in a country with poor infrastructure, little transparency, a financially uneducated society, and a legal and regulatory system fraught with irregularities. Until these hurdles are overcome, or at least “internationalized” a bit, investors for now should probably take only the tiniest of baby steps toward this aspiring frontier market.