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SHC Capital Asia lodges circular for placement of 50 mil new shares at 25 cts each

M&A

SHC Capital Asia lodges circular for placement of 50 mil new shares at 25 cts each

Samantha Chiew Published on Tue, Nov 21, 2017 / 7:25 AM GMT+8

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SINGAPORE (Nov 21): SHC Capital Asia announced on Monday night it had lodged a circular for the proposed acquisition of MM Myanmar for $69.7 million.

The group will be acquiring the shares from Yoma Strategic Investments, First Myanmar Investment Company and Exemplary Ventures.

The proposed acquisition will be paid by the issuance of about 265 million SHC new consolidated shares at a price of 26.3 cents each, following a share consolidation of every seven existing shares into one consolidated share.

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