Amata Holding Pcl, a lodge and spa operator, is about to turn into the seventh firm to record on Myanmar’s solely inventory alternate because the bourse seeks to lure extra corporations to the platform.
The corporate plans to supply an unspecified variety of shares to home and international traders in a list focused earlier than the top of this quarter, Amata Chairman Win Aung stated in an interview. The operator of luxurious lodge manufacturers akin to Amata and Awinka in vacationer locations together with Ngapali Seashore, Bagan and Inle Lake, Amata will use the proceeds from share sale to develop price range motels, he stated.
Amata, which has a paid-up capital of three.5 billion kyat ($2.62 million) and 10.5 million shares, didn’t say how a lot it can increase from the itemizing, which has been cleared by the Securities and Exchange Commission of Myanmar. “We’ll use the proceeds from this itemizing in growing inexpensive motels as we plan to open no less than 4 motels within the subsequent three years,” Win Aung stated.
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Amata would be the first of no less than 4 corporations set to record on the fledgling Yangon Inventory Change this yr, in keeping with Thet Tun Oo, govt senior supervisor on the bourse. The COVID-19 outbreak has delayed plans to open a pre-listing board, he stated.
The alternate is in discussions with about 30 corporations which might be eager to record on the platform and expects no less than 4 securities on the board, Thet Tun Oo stated.
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