Myanmar Sugar seeks investment to finance a new sugar factory

摘要

Myanmar Sugar Development Public Company is planning another share sale to invest in Thilawa SEZ and to finance a sugar factory in Sagaing, according to the Myanmar Times. The firm is planning to sell 500,000 shares at MMK11,000 ($11.30) each in the coming funding round, with prices MMK1000 more expensive than its first issue of 1 mln shares, directors said at the company's annual meeting on August 17. Myanmar Sugar will put about MMK2.95 bin ($3 mln) of the total MMK5.5 bin ($5.6 mln) it plans to raise into Thilawa SEZ shares. Myanmar Sugar is one of nine founding companies which together are to own at least 45% of Myanmar Thilawa SEZ Holdings Public Limited (MTSH), which in turn owns 41 % of Thilawa SEZ project, according to MTSH's website and prospectus.