Brief: Yoma Strategic Holdings Says Entered A Placement Agreement With Ayala Corporation

Yoma Strategic Holdings

13/11/2019 22:20

Nov 14 (Reuters) - Yoma Strategic Holdings Ltd  YOMA.SI :
    * YOMA STRATEGIC & FIRST MYANMAR INVESTMENT FORGE LANDMARK
PARTNERSHIP WITH PHILIPPINES' LEADING CONGLOMERATE AYALA
CORPORATION
    * AYALA CORP  WILL BE INVESTING UP TO US$237.5 MILLION FOR A
20%
STAKE IN EACH OF YOMA STRATEGIC AND FMI
    * AYALA'S INVESTMENT OF US$237.5 MILLION FOR MAXIMUM 20%
STAKE IN
YOMA GROUP TO MAKE THEM 2ND LARGEST SHAREHOLDER IN BOTH COS
    * ISSUE PRICE FOR SHARES OF TWO YOMA GROUP COS SET AT S$0.45
PER
SHARE FOR YOMA STRATEGIC AND MMK15,000 PER SHARE FOR FMI
    * WILL ISSUE UP TO 474.68 MILLION PRIMARY SHARES TO AYALA
FOR A
TOTAL CONSIDERATION OF UP TO US$155 MILLION
    * UNDER DEAL WITH AYALA, AN INITIAL 332.50 MILLION SHARES OF
CO
WILL BE ISSUED BY END OF NOV 2019
    * YOMA STRATEGIC TO ALSO SEEK SHAREHOLDERS' APPROVAL FOR
142.18
MILLION SHARES AT A SHAREHOLDERS' MEETING
    * AYALA WILL ALSO PROVIDE A US$82.5 MILLION CONVERTIBLE LOAN
TO
FIRST MYANMAR INVESTMENT PUBLIC CO. LTD

Source text for Eikon:  ID:nSN9yWFwt 
Further company coverage:  YOMA.SI 

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