Dec 17, 2014

MIIL Raises Nearly $4 Million for More Myanmar Investments

Myanmar Investments International Ltd (MIIL), an AIM-quoted Myanmar focused investment company, said it has raised $3.79 million through a share subscription by some existing shareholders to use it for further investments in Myanmar and for general working capital.

The firm raised $3,797,850 via a subscription of 3,617,000 new ordinary shares at a subscription price of $1.05 per share.

“The company is looking at a number of potential investment opportunities in Myanmar in, for example the manufacturing, healthcare, education and telecommunications sectors,” it said in a bourse announcement.

MIIL said that it has also issued warrants in the ratio of one subscription warrant for every one ordinary share subscribed for as part of the Subscription.

Source: Myanmar Business Today