Shares of Singapore-listed Yoma Strategic slumped as much as 22%, the most since February 2021 on the news. The stock pared losses and traded at 11.8 cents, valuing the company at $265 million as of 2:25 p.m. local time.
Serge Pun, one of Myanmar’s richest tycoons who counts GIC and Norfund AS as investors in his banking business, is facing scrutiny from the country’s authorities.
Pun, the executive chairman and founder of Yoma Strategic Holdings (SGX:Z59
) Ltd, is cooperating with Myanmar regulators including the central bank on matters related to his banking business, the real estate company said Wednesday.
