Myanmar-focused Yoma raises $82 million from placement

The Singapore-listed company is raising cash that may be used to fund the development of a site in central Yangon that it has agreed to acquire from its chairman.
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Barack Obama arrives in Myanmar
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<div style="text-align: left;"> Barack Obama arrives in Myanmar </div>

Yoma Strategic Holdings, a Singapore-listed company focusing on real estate, agriculture and car sales in Myanmar and China, has raised S$101.2 million $82 million from a placement of new shares.

The offering coincided with President Barack Obama’s half-day visit to Myanmar yesterday, taking advantage of the positive headlines and the boost in optimism about the country’s reform process that surrounded his trip.

Early yesterday, Yoma also announced that it had agreed to buy 80% of a company that holds the rights to develop a 10-acre site in downtown Yangon. Yoma said it will pay $81.28 million to acquire the stake from a company owned by its chairman...

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