Burma’s only publicly rocket hit the roof – Swedish Dagbladet

The company, the First Myanmar Investment and known as FMI, rose rapidly from 26,000 to 31,000 kyat (approximately 211 billion), which was the maximum price during launch day. More than 112,000 shares changing hands.

Another five companies are queuing up to debut on the stock exchange, which is housed in a grand colonial building in the city Rangoon, where the country’s central bank was housed before.

bronze bell sounded had the dignitaries, among them both FMI’s major shareholder Serge Pun as Burma’s Deputy Finance Minister Maung Maung Thein, proclaimed that the stock market debut is a historic day in the development of the country’s capital markets.

And Burma, which recently received its first civilian president after decades of military rule and economic mismanagement, has the potential to grow. The World Bank predicts that democratization could mean that the country regains its place among Asia’s most dynamic economies.