Corporate digest

Yoma Strategic Holdings

THE International Finance Corporation (IFC), backed by Canada's government, is raising up to US$28 million by equity and debt financing in a Yoma Strategic Holdings joint venture to bring power to rural Myanmar.

Yoma Strategic said on Tuesday that the IFC will take a 30 per cent stake in Yoma Micro Power. Norwegian state fund Norfund, an original partner in the project, will see its interest drop from 47.5 per cent to 30 per cent after the investment. Yoma Strategic will hold 35 per cent, down from 47.5 per cent.