18 Apr 2016 07:00
18 April 2016
Myanmar Investments International Limited
Possible equity fundraising
Myanmar Investments International Limited (AIM: MIL) (the "Company"), the AIM-quoted Myanmar focused investment company, today announces that it is considering an equity capital raise, in line with its stated strategy in its Admission Document published on 21 June 2013 and subsequent announcements.
The Company is seeking to undertake a substantial fund raising, the proceeds of which will be used to fund its investment pipeline to take advantage of a number of live opportunities it has been exploring in line with its investment strategy. It is expected that, subject to market conditions, the proceeds of the fundraising will be deployed within 6 months of completing the fundraising.
The Company has a strong active pipeline and has demonstrated its ability to execute investments, having completed the US$20 million investment in Apollo Towers in July 2015 and the US$2 million investment in Myanmar Finance International Ltd in August 2014. The Company continues to assess compelling opportunities across sectors such as financial services, healthcare, retail, education, infrastructure and manufacturing.
Further information on the Company, including an updated presentation, can be found on the Company's website: www.myanmarinvestments.com
For further information please contact:
Aung Htun Managing Director Myanmar Investments International Ltd +66 81 836 5104 +95 94 0160 0501 aunghtun@myanmarinvestments.com | Michael Dean Finance Director Myanmar Investments International Ltd +65 82 99 98 98 +95 94 2006 4957 mikedean@myanmarinvestments.com |
Nominated Adviser Philip Secrett / Jamie Barklem/ Carolyn Sansom Grant Thornton UK LLP +44 20 7383 5100 |
Broker Andrew Pinder / Josh Levy / David Herring Alistair Roberts (Hong Kong) Investec Bank plc +44 (0) 20 7597 4000 |
Notes to Editors:
Myanmar Investments International Limited (the "Company") is the first Myanmar focused investment company to be admitted to trading in London and has been established for the purpose of investing in businesses operating in or with business exposure to Myanmar. The Company will target businesses operating in sectors that the Directors believe have strong growth potential and thereby can be expected to provide attractive yields, capital gains or both. In addition to investing into local businesses the Company will also partner with foreign companies investing in Myanmar.
In August 2014 the Company made its first investment in a microfinance joint venture company as detailed in its announcements on 26 August and 1 September 2014, and on 16 November 2015 it was announced that Norfund became a 25% shareholder in the venture.
On 31 July 2015 the Company announced its investment in Apollo Towers Pte Ltd, a telecommunication tower company.
Since its Admission in June 2013, when the Company raised US$6.1 million, it has since raised a further US$23.7 million.
The Company's primary objective is to build capital value over the long term by making investments in a diversified portfolio of Myanmar businesses that will benefit from Myanmar's re-emergence.
Myanmar, a country of approximately 51.4 million people, has been isolated for much of the last 50 years. Once one of the more prosperous countries in Southeast Asia as it has an abundance of natural resources (oil, natural gas, arable land, tourist attractions and a long coastline), it is now one of the least developed countries in the world and has been the subject of sanctions imposed on it by the EU and the US, amongst others. The vast majority of these sanctions have been lifted over the last few years as Myanmar has re-joined the international diplomatic community.
Following the general elections in Myanmar in November 2015 the National League for Democracy, led by Daw Aung San Suu Kyi, won an overwhelming majority of the seats and the new administration took power on 1 April 2016.
Further information can be obtained from the Company's website: www.myanmarinvestments.com