Myanmar Thilawa SEZ Holdings, or MTSH, became the second company on Myanmar's Yangon Stock Exchange, riding a flood of interest from the country's burgeoning equities market, according to Nikkei Asian Review in a report May 21.
Trading was brisk. The developer of the Thilawa Special Economic Zone, an industrial park southeast of Yangon, was to debut at 40,000 kyat ($34.10) a share. But heavy buying put the stock limit-up at 50,000 kyat as soon as trading began. Trading volume for the day totaled 10,157 shares, for a value of 507.85 million kyat.
The Yangon Stock Exchange does not employ a continuous auction system, but rather collects orders during a specified placement period, matching trades at 11 a.m. and 1 p.m. each day.
"Investors may have given securities companies order instructions up until yesterday," said Kensuke Yazu, an adviser to the Yangon bourse for Japan Exchange Group, which played a large hand in the exchange's formation, told Nikkei.
Investors remain eager to buy shares through Myanmar's stock market. First Myanmar Investment, a company with holdings in real estate, financial services and health care, was the first to begin trading on the Yangon exchange on March 25. Those shares went limit-up for their first several sessions as well.