Myanmar Investments International Ltd (MIIL) is considering raising additional funding over the next few months via equity issue to take advantage of its growing pipeline of investment opportunities, the AIM-listed firm said.
Michael Dean, the firm’s finance director, said, “We recently announced the possibility of setting up and investing in a securities business in Myanmar. Although we have the funds in place for this transaction, we also have a growing pipeline of potential investments. This pipeline includes, for example, opportunities in a number of sectors, including healthcare, telecommunications, manufacturing and education.
“While it is possible that none of these opportunities will become investments given the size, quality and frequency with which opportunities that are now arising, we want to be well placed to take advantage of them, and to this end we are seeking to ensure that we have an appropriate level of funds available.”
The company says its primary objective is to “build capital value over the long term by making investments in a diversified portfolio of Myanmar businesses that will benefit from Myanmar’s re-emergence.”
MIIL closed an additional equity fund raising of $3.8 million in December 2014.