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ISDN looking to raise up to $150m in bonds

Engineering firm close to Myanmar govt approval for coal power project

AS it closes in on Myanmar government approval to develop the largest coal power plant in the country, ISDN Holdings is embarking on a round of financing that will see it raise S$100 million to S$150 million via convertible bonds.

The engineering solutions provider, which is diversifying into energy projects in South-east Asia, also plans to launch an initial public offering for the Myanmar coal mine that will supply the power plant, ISDN managing director Teo Cher Koon told The Business Times yesterday.

"Our mining proposal and financial analysis for the coal power plant got government approval. Now, we are preparing the memorandum of agreement with our Myanmar partner and the Ministry of Electric...

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