Myanmar Strategic Holdings Ltd - developer and operator of consumer businesses in Myanmar - Raises additional USD385,000 through issue of 19,250 shares at USD20 each. In total, has now raised USD6.4 million through the share issuance programme announced in May. Says the funds will allow it to increase the speed at which it can scale and expand its existing operations, support the acquisition of a minority stake in Myanmar Investments International Ltd, and partially satisfy market demand for its shares and improve liquidity in the market for those shares.
Confirms an application will be made for 187,500 new shares to be issued to MACAN Pte Ltd and A-Star-Education Holdings Pte Ltd in connection with the completion of the second tranche of a previous subscription to raise USD6.0 million. Following admission of the new shares, Myanmar Strategic will have 2.8 million shares in issue.
Current stock price: USD10.25
Year-to-date change: down 15%
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.