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About PLB

ABOUT PRE LISTING BOARD (PLB)

 

PRE LISTING BOARD (PLB) is a new market of YSX in order to provide unlisted public companies with fund-raising opportunities and to build a bridge toward listing on the main board (MB) of YSX. The Securities and Exchange Commission of Myanmar issued Notification (1/2022) for approval to set up the Second Board of YSX with the named as the Pre Listing Board (PLB) on Feb 1st, 2022 and Notification (1/2023) for registration procedure of the Pre Listing Board (PLB) of YSX on June 28th, 2023. In addition, the Operation Manual was published by SECM on Feb 22nd 2024 and YSX started to accept application from candidate public company to register at the Pre Listing Board (PLB) since then. It created a market for trading registered shares of unlisted public companies and also called the REGISTRATION BOARD.

Pre Listing Board (PLB) aims to fulfil following needs for unlisted public companies;

  • Easy access to fund

  • Bridge toward listing goal

  • Level up corporate practices

  • Be transparent and fair share trading

 

The following table can be compared between the Main Board (MB) and the Pre Listing Board (PLB);

 

Listed Company [Main Board] Registered Company [Pre listing Board]
Highest reputation Gaining more reputation 
A place for fund raising A place for fund raising (same as left)
More liquidity and more credit worthiness for the shares Creating liquidity for the shares
Cost effectiveness on Corporate Actions such as holding AGM, EGM, Bonus share issues, Stock split etc.. Cost effectiveness on Corporate Actions such as holding AGM, EGM, Bonus share issues, Stock split etc.. (same as left)
More Transparent: Strong corporate management, corporate governance and internal management system Transparent : Quality time to improve corporate management, corporate governance and internal management system via transparency due to mandatory system for disclosure
Enjoyable 5 % exemption on income tax and expected for more exemption Potential to enjoy tax exemptions
Both Myanmar and Foreigner can trade Both Myanmar and Foreigner can trade (same as left)

 

REGISTERED COMPANY is a company whose shares are traded on Pre Listing Board (PLB) of YSX and its shares are called REGISTERED SHARES.

 

As of 26/04/2024, there are (1) registered companies whose shares are approved for trading on the Pre Listing Board (PLB) of YSX;

(For company detail: https://ysx-mm.com/pre-listing-board/registered-companies/company-list/)

REGISTRATION AT PRE LISTING BOARD (PLB)

With the aim of further activating the Myanmar capital market, YSX established an environment where companies firstly register with Pre-Listing Board (PLB), conduct nurturing to enhance their internal management structure, more transparent and information disclosure up to a level required to listed companies so that they can be listed within a few years.

Therefore, registered companies on the Pre Listing Board (PLB) will be candidates for listing on YSX [Main Board] in near future.

An unlisted public company can apply registration on the Pre Listing Board (PLB) in accordance with provisions stipulated in Notification (1/2022) and (1/2023) of SECM and its Operation Manual, if following requirement for registration are satisfied;

    • (1) Need to be a Public Company

    • (2) Need to have 100+ shareholders

    • (3) Need to prepare Audited financial statements in line with (MFRS/IFRS)

    • (4) Auditor Report which needs to be signed by Myanmar CPA

    • (5) Need to fulfill Tax Dutiful

    • (6) DEMAT (Dematerialization of share certificates into electronic form)

    • (7) Need to comply with the SE Law and its rules

    • (8) Need to comply with AML/CFT

    Pre Listing Board (PLB) is designed for unlisted public company to be registered promptly and the following procedure will be referred;
    (For more detail: https://ysx-mm.com/pre-listing-board/registration-procedure/)

    REGISTRATION PROCESS: (4) STEPS

    *Appointment of Registration Adviser is recommended before submitting application for registration on the Pre Listing Board (PLB). (For more detail about registration adviser: https://ysx-mm.com/pre-listing-board/registration-adviser/)

    TRADING AT PRE LISTING BOARD (PLB)

    Pre-Listing Board (PLB) will provide investors with the opportunity to trade shares of unlisted public companies through YSX’s highly convenient and transparent platform.

    Registered companies are required to disclose corporate information such as annual & interim financial information and important matter or facts decided by company management or occurred in the company, document about business policy & plan so as to protect investors.

    Both local and foreign investors can trade registered shares unlisted public companies through any securities company which obtained securities business license issued by the Securities and Exchange Commission of Myanmar (SECM) as well as trading qualification provide by YSX and the process is same as trading listed shares on the Main Board (MB).

    (For more information about securities companies: https://ysx-mm.com/trading/trading-participant/)
    (For more detail (local investors): https://ysx-mm.com/trading/trading-procedure-for-local/)
    (For more detail (foreign investors) : https://ysx-mm.com/trading/trading-procedure-for-foreigner/)

     

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