Cautionary tales for Myanmar's new exchange

Myanmar's eagerness to build up the new Yangon Stock Exchange may remind observers of what happened in three nearby markets - for better or worse.

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,...

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