Singapore Myanmar Investco to raise $7 mil in private placement

SINGAPORE (Aug 31): Singapore Myanmar Investo is placing out more than 15.4 million new shares at 48 cents each with the help of CLSA Singapore to raise $7 million in net proceeds.

The placement price represents a discount of about 8.5% to the volume weighted average price of 52.44 cents for trades done on Wednesday, being the full market day during the date the placing agreement was signed.

Shares in Singapore Maynmar Investco last traded at 52 cents on Wednesday.

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