Daiwa Securities Group will advise Myanmar’s Asia Green Development (AGD) Bank as it prepares to go public on the country’s stock exchange, which is expected to be implemented in 2015.
At a signing ceremony in Yangon last week, chairman of AGD Bank, Than Yi expressed his wish that the initial public offering process will be successful and that the bank will become the first publicly traded company in the country.
The deal was signed in Myanmar between the bank and Myanmar Securities Exchange Centre (MSEC), a Myanmar company owned by the Daiwa group and state-owned Myanmar Economic Bank.
MSEC and Daiwa Securities Co, Daiwa’s investment banking arm, will provide assistance in areas including negotiations with financial regulators as well as coordination with legal and account professionals.
President and chief executive officer of the Daiwa group, Takashi Hibino, said the signing represents an important step for the development of an equity market in Myanmar.
Daiwa to Advise AGD Bank
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