Yoma

Yoma: To lift trading halt at 3.15pm. Results out and rights issue.

3Q rev at $9.8m a almost five-fold increase yoy, +35.1% qoq. Net profit at $1.3m compared to loss of $462k prev yr same period -2.6% qoq. Increase in revenue was due to sales of housing and land dev rights (LDR) in Myanmar. A total of 43 plots were sold compared to 7 plots in the previous quarter. In addition co also recorded housing sales of $1.4m.

For future developments, co is looking to pursue its right to acquire the LDRs in relation to Star City.

The rights issue is also to fund its LDR acquisition of Star City. Co will issue 4 rights share for every 5 shares. The rights shares will be issued at $0.395 per share, 39.2% discount to the last traded price.