Myanmar tycoon open to foreign investment in wake of Ayala deal

YANGON - Myanmar tycoon Win Aung is open to foreign investment in the listed industrial-estate provider he oversees, following Ayala Corp's tie-up with a firm traded on the nation's fledgling stock exchange.

Myanmar is trying to expand a stunted bourse that currently has just five stocks by allowing overseas purchases of domestic equities from 2020. The Philippines' oldest conglomerate Ayala is investing in one of those five - First Myanmar Investment - via an US$82.5 million convertible loan that will become a 20 per cent shareholding when rules permit.

Win Aung is also the founder and chairman of conglomerate Dagon Group. He was on the US government's list of"specially designated nationals" until 2015, under a sanctions program that targeted individuals and entities when the country was run by a military junta.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US third-quarter GDP growth raised; business investment stabilizingU.S. economic growth picked up slightly in the third quarter, rather than slowing as initially reported, and there are signs the downturn in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Private equity firm Silver Lake makes US$500 million investment in Man City ownerPrivate equity firm Silver Lake has agreed to make a US$500 million equity investment into the owners of English soccer champions Manchester City, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Ho Ching warns of fake investment articles featuring her photoSINGAPORE — Temasek chief executive Ho Ching has warned Facebook users of fake reports with her photo, aimed at scamming the public. Must be really Bad Investments Singapore
Source: YahooSG - 🏆 3. / 71 Read more »

Football: Manchester City owner draws US$500 million investment from private equity firm Silver LakePARIS (REUTERS) - U.S. private equity firm Silver Lake has agreed to invest US$500 million (S$683 million) in the owners of English football champions Manchester City, valuing the Premier League club's owner at US$4.8 billion.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »