Local initial public offering of Thilawa SEZ Public Company completed successfully
Share sales in Myanmar Thilawa SEZ Holdings Limited, which participates in the development of the Thilawa SEZ, were successfully completed. The shares were overscribed and measures are being taken to sell the shares on pro-rata basis. The company sold out 2.145 million shares alloted for the public (mainly Myanmar citizens) at per value of Kyats 10,000 (approximately US$ 10). The company also plans to set up the OTC market in order to establish more efficient secondary market for its shares. More information and prospectus of the company can be downloaded at www.mtshmyanmar.com.
Those who proposed to purchase the shares up to 500 (i.e. equivalent to the amount of Kyats 5 million) had the chance to purchase as they proposed; however, those who proposed to purchase more than 500 shares got much lesser number of shares. People who proposed to buy up to 500 shares account for more than 90%, whereas those who proposed to buy more than 500 shares account for less than 10%.
Now, the Myanmar Thilawa SEZ Holding Limited has more than 17,000 shareholders.