Yoma

Yoma: To proceed with the Landmark Development in downtown Yangon. Under a revised agreement, Yoma is proposing to acquire 80% of the 10-acre site with remaining lease term of ~25 years from vendor, SPA, for US$43.2m. A remaining amount of US$38.1m will be paid when the land leases have been extended. The initial payment of US$43.2m will be funded by a 1-for-8 rights issue at $0.38 per rights share.