KBZSC has been formed as a new joint venture between Myanmar’s diversified conglomerate KBZ Group and Stirling Coleman, a corporate finance advisory firm headquartered in Singapore. KBZSC received the first license issued to operate as an underwriter for the Yangon Stock Exchange (YSX). The underwriter will offer trading, broking, merger and acquisition services, granting and advising services to the six companies which are due to get listed in the YSX and will enable other companies to go publicly listed. KBZSC have paid a fee of 50 billion Kyats for the underwriter license.
“In YSX, securities companies are allowed KBZ and Stirling Coleman to Jointly Underwrite to be joint ventures with foreign enterprises. So far, we have made a JV with Stirling Coleman which is very successful in the Singapore Stock Exchange,,” said Nyo Myint, a Director of KBZ Group.
Rudi Rolles, Managing Director of KBZSC shared, “This partnership comes with excitement in the history of Myanmar’s financial market and we cannot imagine better companies to lead the way. As our expertise in investment advisory, IPO management and underwriting in Asia, we are ready to help the companies that they can manage their share sales. We will also help other companies to raise funds through public issues and to get listed in YSX. We were working to get listed good quality companies by the end of the year.”
Stirling Coleman has over 14 years of experience and successfully completed IPO (Initial Public Offering) for 28 companies in Singapore Exchange since 2003, raising a total of over $946 million for issuers.
KBZ Group also has diverse business interests ranging from banking, jade mining, insurance service, airline, plantation, trading, hotels and tourism, real-estate and health care sectors. KBZ Bank is also the authorized fund settlement bank for transactions on YSX.
Dr. Maung Maung Thein, Chairman of YSX, advised the six companies not to rush to list and the trading at the YSX is expected to start towards the end of the first quarter of 2016
