TMH Telecom sets to become the fifth listed firm on the Yangon Stock Exchange (YSX) after getting approval to trade on the first and only bourse in Myanmar on December 1.
A notice about the approval was published on the Exchange’s website on December 4, notifying that further announcement will be made on the listing date of TMH Telecom. The telco becomes the first YSXlisted company to raise fresh capital by issuing new shares, as all four of its forerunner firms have floated only the stocks already issued in the OTC (Over-the-Counter) market.
Up to the final week of December, TMH Telecom was still on an IPO (Initial Public Offering) process which offered a share at 3,000 Kyats. Trading of TMH’s shares on the YSX is expected to be able to commence in late January.
TMH Telecom, a maker of telephone exchange equipment and transmission towers for cellphone operators as well as fiber-optic networks, is also the first telecommunications company on the YSX. Registered as a company in August 2007, it converted to a public company in August 2016.
The news of TMH’s listing stirs a little surprise as it is neither of the two companies previously reported to be the upcoming listed firms on the YSX. Either Myanmar Agribusiness Public Corporation (MAPCO) or Great Hor Kham was expected to come as the fifth listed firm.
MAPCO and Great Hor Kham were among the six companies initially chosen for listing on the YSX. MAPCO is a public corporation with a focus in agricultural investment and agro-based industries, and Great Hor Kham is a general contract construction company, engaging in activities that include design and construction of roads, bridges, elevated ways, expressways, buildings and industrial factories. The four companies already on the Exchange are First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB) and First Private Bank (FPB).
