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First Day of Dealings

22 Aug 2017 08:10

RNS Number : 6302O
Myanmar Strategic Holdings Ltd
22 August 2017
 

22 August 2017

 

Myanmar Strategic Holdings Ltd.

("MSH" or the "Company" or the "Group")

 

ADMISSION TO TRADING AND FIRST DAY OF DEALINGS

 

Myanmar Strategic Holdings (LSE: SHWE), the independent developer and operator of consumer businesses located in Myanmar, one of the fastest growing economies in the world, is pleased to announce the admission today of its Ordinary Shares to trading on the standard segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities (together, "Admission"). Dealings in the Ordinary Shares commenced at 8.00am today, 22 August 2017 under the ticker "SHWE" and ISIN number of SG9999015747.

 

Concentrating on Hospitality and Education, the Company intends to focus on the broader consumer sector in Myanmar. Myanmar is one of the fastest growing economies within Asia Pacific. Its annual GDP growth stood at 6.4% for the year ended 31 March 2017, making it one of the top 10 fastest growing economies in the world, whilst McKinsey has estimated that consumer spending in Myanmar could triple by 2030.

 

SUBSCRIPTION AND ADMISSION STATISTICS

 

Issue Price per Ordinary Share

US$10

Gross proceeds of the Subscription

US$4.2m (c. £3.2m)

Net proceeds of the Subscription receivable by the Company

US$3.3m (c. £2.5m)

Number of Ordinary Shares in issue immediately following Admission

2,267,133

Market capitalisation of the Company at the Issue Price at Admission

US$22.7m (c.£17.5m)

 

The proceeds of the Subscription receivable by the Company will be used to scale-up the Group's operations across Hospitality and Education, expand and invest into other consumer-related sectors and for general working capital and cash resources for potential acquisitions.

 

Current operating portfolio

 

Hospitality division

· 422 beds across three boutique hostels in Bagan, Mandalay and Inle Lake

· Further 50 beds expected by November 2017 in a fourth boutique hostel in Bagan

· Roll-out plan being developed by management to introduce new sites in both well-known and emerging touristic locations

 

Education division

· In 2016 acquired exclusive rights to develop Pearson's Wall Street English ("WSE") brand in Myanmar

· WSE is one of the world's largest providers of English language education to adults - a globally recognised and trusted brand

· First English language centre launched in February 2017, at Junction Square in the capital, Yangon. It spans over 800m2, with almost 500 enrolled students as at 1 August 2017

· A second site totalling around 600m2 is due to open by the end of 2017, also located in downtown Yangon within the City Mall St. John

· Roll-out plan to develop up to a further eight English language centres across the country within the next eight years

 

Enrico Cesenni, CEO and Founder of MSH, said: "I am delighted that MSH has joined the London Stock Exchange. The Admission will expedite the execution of our growth strategy as we look to progress our hospitality and education divisions in Myanmar.

 

"We have built a solid foundation in Myanmar over the past four years and have a strong management team with extensive experience in both the region and within our operating sectors. We are excited by the opportunities that now present themselves to us as a listed company, which we believe will enhance our profile and provide access to the UK equity markets to support future growth. 

 

"We now look forward to expanding our portfolio across hospitality and education, increasing the number of beds we manage and rolling out the Wall Street English brand to additional locations across the country. I look forward to updating our new shareholders and other investors with our progress as a public company in due course."

 

Any defined terms used in this announcement are as set out in the prospectus published in relation to Admission dated 17 August 2017.

 

For more information please visit www.ms-holdings.com or contact:

 

Myanmar Strategic Holdings

Enrico Cesenni, Founder and CEO

 

enrico@ms-holdings.com

 

Allenby Capital Limited (Broker)

Nick Athanas

James Thomas

Nick Naylor

 

+44 (0)20 3328 5656 

 

Yellow Jersey PR (Financial PR)

Felicity Winkles

Joe Burgess

Henry Wilkinson

 

+44 (0) 7748 843871 

+44 (0) 7769 325254

+44 (0) 7951 402336

 

Notes to editors:

 

Myanmar Strategic Holdings, the independent developer and operator of consumer-focussed businesses in Myanmar, one of the fastest growing economies in the world.

 

Concentrating on Hospitality and Education, the Company intends to focus on the broader consumer sector in Myanmar. The Asian Development Bank forecasts real GDP growth of around 8 percent for the next few years.

 

The Company's earliest investments have been in the Hospitality sector - through its portfolio the Company manages 422 beds in 3 locations across Myanmar and is developing a fourth, expected to open in late 2017. Since the beginning of 2016, the Company has diversified into other business streams and has signed an exclusive agreement to manage Pearson's English language learning franchise, Wall Street English, as the brand expands into Myanmar.

 

Myanmar is one of the fastest growing and most promising economies within Asia Pacific. Its annual GDP growth stood at 6.4 percent for the year ended 31 March 2017, making it one of the top 10 fastest growing economies in the world, whilst McKinsey has estimated that consumer spending in Myanmar could triple by 2030.

 

Myanmar Strategic Holdings is well placed to grant investors early exposure to Myanmar's renewed economic and political trajectory.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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