Asia Green Development Bank will begin selling shares to the public within six months, AGD chairman Than Yi said yesterday.
He said the sale would serve the public interest and that the bank had consulted valuation firms, law firms and auditors about the move, which follows a change in registration on February 18 from a private to a public company.
Than Yi reiterated that AGD had no links to the arms or drugs trades and that it complied with the central bank’s rules and regulations as well as international banking standards.
The bank was founded by the Htoo Group of Companies, which is controlled by Tay Za, a business associate of the previous military regime.
Than Yi said numerous figures and organisations, including heads of state, ministers and diplomats, were working to ease the effects of United States sanctions on the Htoo Group.
source: Eleven Myanmar
http://elevenmyanmar.com/business/2598-agd-bank-to-sell-shares-within-six-months-chairman-says
He said the sale would serve the public interest and that the bank had consulted valuation firms, law firms and auditors about the move, which follows a change in registration on February 18 from a private to a public company.
Than Yi reiterated that AGD had no links to the arms or drugs trades and that it complied with the central bank’s rules and regulations as well as international banking standards.
The bank was founded by the Htoo Group of Companies, which is controlled by Tay Za, a business associate of the previous military regime.
Than Yi said numerous figures and organisations, including heads of state, ministers and diplomats, were working to ease the effects of United States sanctions on the Htoo Group.
source: Eleven Myanmar
http://elevenmyanmar.com/business/2598-agd-bank-to-sell-shares-within-six-months-chairman-says
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