A man looks at his watermelon field near the Thilawa economic zone outside Yangon October 2, 2012. / Soe Zeya Tun

Myanmar Thilawa SEZ Holdings (MTSH) stock shares have received increased interest from investors since the shares reopened for trading after a recent share split, a senior official from the Yangon Stock Exchange (YSX) told The Irrawaddy.

MTSH trading stopped on Oct. 31 for a preapproved share split. When trading reopened on Nov. 4, the share price was 5,300 kyats per share.

The company shares dropped by a value of ten—meaning that prior shareholders would hold 10 times as many shares as before the split, but that the value of their shares remained the same.

The company has increased the number of shares in order to boost trading, according to U Thet Htun Oo, of the YSX.

After the share split went through, 60,000 shares were traded on Nov. 4.

U Thet Htun Oo said that MTSH shares are expected to grow in popularity to Japanese investors, especially following State Counselor Daw Aung San Suu Kyi’s recent visit to the country.

During her trip, Japan pledged around US$8 billion in aid to Burma. Following the visit, dozens of Burmese and Japanese businessmen met at the Myanmar Investment Forum in Tokyo on Tuesday.

U Myat Thin Aung, chairman of the Hlaing Tharyar Industrial Zone, said Japanese investments in Burma have the potential to trump other countries, particularly in Burma’s industrial zones.

“Japanese investors waited for the United States to lift sanctions. Now that they have, Japanese investors are eyeing the auto industry, garment industry and manufacturing sector,” he said.

He agreed that MTSH shares would see increased demand as the Thilawa SEZ is developed.

As of November 8, the MTSH split share price has fallen slightly to 4,900 kyats per share. There are currently three companies trading on the YSX including FMI (16,000 kyats per share) and Myanmar Citizen Bank (9,600 kyats per share).

Source:
courtesy of THE IRRAWADDY

by KYAW HSU MON

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]