Tourism firm Memories Group debuts on Singapore Exchange
Myanmar’s Tourism firm Memories Group debuted on the Singapore Exchange on January 5, reported the DealStreetAsia. Memories Group, the largest operator of balloons in Myanmar, rose 48 percent above its placement price in its debut session on the Singapore stock exchange. Memories Group is a spin-off of the tourism assets of Yoma Strategic Holdings Ltd and two other companies, which had undertaken a reverse takeover of SHC Capital Asia, according to the news website. The firm, which is 7.6 percent-owned unit of Yoma Strategic Holdings Ltd, has become the first Myanmar tourism-focused company to list on an exchange abroad. The company raised S$10.7 million in a placement of 42.6 million new shares and 7.4 million vendor shares at S$0.25 per piece, which ended on January 3.