MSH to raise investment for Vietnam based franchise

Myanmar Strategic Holdings (MSH) will be raising $6 million from Belgian PE firm Verlinvest SA and MSH’s largest shareholder, MACAN Pte Ltd, and will use the proceeds to acquire language training service brand Wall Street English franchise in Vietnam in a separate transaction, dealstreetasia reported.

MSH said in a statement that it will issue 200,000 new ordinary shares to A-Star Education Holdings, a subsidiary of Verlinvest, and 100,000 shares to MACAN, at the agreed price of $20 per share. The share subscription is expected to complete by July 2020 through two tranches.

This is part of MSH’s share issuance programme of up to 490,000 new shares within the next 12 months. Following the completion of the subscription, MACAN will hold 34.6 per cent of MSH’s issued share capital, and A-Star will own another 7.2 per cent.

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Source : Mizzima

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