Tourism firm Mem­o­ries Group de­buts on Sin­ga­pore Ex­change

Mizzima Business Weekly - - IN FOCUS -

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.

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