Yoma gets green light for proposed 1-for-3 rights issue

At $0.38 for each rights share.

A report by OCBC reveals that Yoma has obtained shareholder approval for its proposed 1-for-3 rights issue at S$0.38 for each rights share, which will raise up to S$164.7m.

According to OCBC, the amount will be used to finance acquisitions of 1) an 80% stake in the land development rights (LDRs) relating to the Landmark site in central Yangon (S$54.0m); 2) various stakes in the LDRs for 11.4m sq ft of land in Pun Hlaing Golf Estate (S$95.9m); and 3) Convenience Prosperity Co. Ltd, a dealer of tractors and farm equipment (S$14.8m).

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