MOI
Local conglomerate KBZ Group has joined with Singapore-based Stirling Coleman to operate as a securities company in Yangon Stock Exchange (YSE).
“The securities companies in YSE are allowed to be joint ventures with foreign companies. We have joined with Stirling Coleman which is very successful on the Singapore Stock Exchange,” said U Nyo Myint, director of KBZ Group.
The new venture, KBZ Stirling Coleman Securites (KBZSC), will offer a full suite of trading, broking, granting and advising services to the six companies which are currently listed in the Yangon Stock Exchange, said U Nyo Myint.
Stirling Coleman Company has operated in Singapore Stock Exchange since 2013 and has helped 28 companies sold their shares worth more than $946 million.
KBZSC have paid a fee of K50 billion for the underwriter licence.
“We will help the companies that they can manage their share sales and also we will help Myanmar companies to participate in Yangon Stock Exchange,” said Rudi Rolles, managing director of KBZSC.
U Nyo Myint declined to give the invested amount by each company in the joint venture.
KBZ Group has diverse business interests ranging from banking, mining, insurance service, airline and agriculture to property, hotels and tourism and health care sectors.
From : Myanmar Business Today