Yoma 1-for-3 rights issue to fund more acquisitions

YOMA Strategic Holdings, which has a diverse Myanmar portfolio, has announced additional acquisitions which it will fund through a proposed one-for-three rights issue of up to 430.7 million shares at S$0.38 per unit.

The issue price of S$0.38 represents a discount of 46.5 per cent to Tuesday's closing price of S$0.71 and 39.6 per cent to the theoretical ex-rights trading price of S$0.63.

The proposed rights issue is expected to raise S$163.9 million, which will be used to pay for the acquisitions. The shortfall of approximately S$0.8 million will be funded from the company's internal resources.