RANGOON — The Yangon Stock Exchange’s (YSX) newest trading company, First Private Bank (FPB), announced its base share price on Thursday, one day before trading is set to begin.
The FPB will be start trading in YSX at January 20. The share base price for FPB is 39,000 kyats (US$28.50), with the upper limit set at 44,000 kyats and lower limit at 34,000 kyats.
FPB was founded in 1991 as a public company and headed by Dr. Sein Maung. On Dec. 30, 2016, it was cleared for listing to trade in accordance with Section 41(c) of the Securities Exchange Law and sections 7 and 8 of the Securities Listing Business Regulations, according to the YSX website.
The FPB currently has 2.4 million shares; the authorized capital is 100 billion kyats and the paid-up capital is 24.47 billion kyats. However, the new shares will not be sold when trading begins in the YSX at Friday.
Compared to other companies recently entering the stock exchange—including First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), and Myanmar Citizens Bank (MCB)—FPB’s base share price is the highest.
“The original share price of FPB is 10,000 kyats, so this reference base rate is also high, but it depends on buyers and sellers,” said U Thet Tun Oo, senior manager of YSX.
As of January 19, the share price of FMI was 14,000 kyats. MTSH’s was 4,300 kyats and MCB was 9,100, according to YSX.
“The recent FMI share price is highest if it is compared with their original price of 1,000 kyats. It means, it is has increased by 14 times. FPB’s share price has only increased by four times,” the YSX senior manager added.
According to the YSX, the base share price is the price to determine the upper and lower price limits of the day.
Investors may place a “limit order” at any price between the upper and lower limit price or a “market order” to be carried out at current market prices.
