SHC Capital to acquire MM Myanmar for S$69.7m

Singapore

CATALIST-LISTED SHC Capital Asia Ltd said it has lodged a circular with the Singapore Exchange for the proposed acquisition of MM Myanmar Pte Ltd (MM Myanmar) for S$69.7 million.

SHC Capital is acquiring the shares of MM Myanmar from three vendors - a wholly owned unit of mainboard-listed Yoma Strategic Holdings which owns 63.1 per cent of MM Myanmar, First Myanmar Investment Company Ltd (FMI), and Exemplary Ventures Ltd (EVL).

The proposed acquisition will be paid via 264.997 million new consolidated shares of SHC Capital at an issue price of 26.3 Singapore c…