You don’t have to look far from Myanmar to see the dangers of a pre-emptively launched stock exchange.
The country's outgoing, military-led regime wants to see the first companies list on its new Yangon Stock Exchange before handing over power to an elected government at the end of March, but faces a struggle, with companies seemingly ill-prepared for a listing.
The experiences of three neighbouring countries might offer food for thought.
In 2011, Laos launched its bourse with two listed stocks Banque Pour Le Commerce Exterieur Lao and EDL-Generation. Neighbouring Cambodia followed the next year with its bourse and just one stock,...