Great Hor Kham to invest K48 billion in hydropower project in Shan State
IPO-bound Myanmar-based constructor Great Hor Kham Public Company has secured government approval to invest K48 billion ($35.1 million) in the Nam Paw hydropower project in Muse, northern Shan State, reported the DealStreetAsia. The company is among the first batch of the six listed companies officially announced in late 2015 to be listed on the Yangon Stock Exchange. It is expecting to have an initial public offering (IPO) by late 2017.
“We expect to apply to the Yangon Stock Exchange by July to get ready for an IPO in 2017,” Zaw Zaw Oo, chief financial officer of the company, told the news agency.
Great Hor Kham is focusing on infrastructure investments in Muse, and planning to raise about K20 billion for the 20-megawatt hydropower plant through the IPO, reported the DealStreetAsia.The project will be implemented on the Nang Paw Creek near Mane Han old village in Muse.The memorandum of agreement for the hydropower project was signed in March 2016.