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Business News Digest
FMI hits price ceiling on its initial trading
Yangon Stock Exchange (YSX), which was established with Japanese aid, listed its first company – investment firm First Myanmar Investment (FMI). The listing share price was Ks26,000 and on the same morning it hit the price ceiling of Ks31,000. It continued to rise hitting its price ceiling consecutively for 3 days and eventually reaching Ks41,000 (March 29 closing price). On the opening day of trading, there was a long line-up of over 100 people indicating the high degree of investor interest which drove up the share price.
The YSX was opened with funding from Daiwa Securities Group, Japan Exchange Group, and Myanmar Economic Bank in December 2015. Going forward, it is expected that the next listing will be Myanmar Thilawa SEZ Holdings, Myanmar shareholdings of Myanmar Japan Thilawa Development. The first five days of trading volume was 4x the volume of Cambodia and 20x the volume of Laos.