Following the deal, Fernando Zobel de Ayala, the president and chief operating officer of Ayala, will sit on the board of Yoma.
SINGAPORE (Nov 15): DBS Group Research is keeping a keen eye on Yoma Strategic Holdings, following news that Philippine conglomerate Ayala Corporation in injecting some US$155 million ($211 million) to acquire a 20% stake in the Myanmar-focused company.
Ayala, one of the oldest and largest conglomerates in the Philippines, will acquire 478.6 million new shares in Yoma at 45 cents each – representing a 37.7% premium to the last traded volume weighted price.
