October 1, 2016 2:00 am JST

Yangon bourse to mark first-ever new-share issuance

MOTOKAZU MATSUI, Nikkei staff writer

YANGON -- New shares will be issued on the Yangon Stock Exchange for the first time in the coming months, with major Myanmar construction company Great Hor Kham going public by the spring of 2017.

The company plans to issue about 20 billion kyat ($15.8 million) in stock. Great Hor Kham hopes to strengthen its infrastructure-related business as it eyes growth potential in power plant construction, Chairman Sai Ohn Myint told The Nikkei.

Great Hor Kham, based in the city of Muse in the northeastern state of Shan, was established in 2012. It has contracted projects from such clients as the state government for plans like the construction of a Muse business district.

The exchange opened this March. But the three stocks already listed there, including First Myanmar Investment, have been limited to shares from existing holders.

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