Corporate digest

Yoma Strategic

THE Myanmar-focused, mainboard-listed company on Wednesday proposed to increase its existing shareholding and take a controlling interest in mobile payments firm Digital Money Myanmar (Wave Money) via a US$76.5 million deal.

Yoma intends to first restructure the holding of its interest in Wave Money by forming a new investment holding company in Singapore named Yoma MFS Holdings (YMFS), which will then fork out US$76.5 million in cash to acquire Norwegian telecommunications giant Telenor's 51 per cent stake in Wave Money.