Thilawa SEZ public offering sees 700,000 shares sell out

A total of 700,000 shares of the Thilawa Special Economic Zone had sold out by March 14, according to the chairperson of the SEZ’s public company.

The shares, ranging from tens of thousands to millions of kyat, are in high demand, said Win Aung. Share sales between March 3 and March 14 amounted to more than Ks 7 billion (about US$ 7 million), he said.

Some 2.14 million shares will be sold until April 9 though the branches of Ayeyarwady Bank, Myanmar Apex Bank, Cooperatives Bank, Yoma Bank and Kanbawza Bank across the country. The shares were made available at these venues after a proposal showing the number of shares was submitted.

“The purpose of the Thilawa SEZ public offering is to provide equal investment opportunities. Priority will be given to those who buy the shares worth less. The number of share holders had reached over 5,000 by March 14. It is surprising that some propose buying only one stake while others take shares worth millions more,” said Win Aung.

The Thilawa SEZ was launched on November 30 last year. It is estimated that the zone will start operations in mid-2015 on a commercial scale, according to officials from the zone.

Priority will be given to those who buy fewer shares. The remaining shares will be sold out through a pro-rata system on a proportional basis.

source: Eleven Myanmar

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