Yoma Strategic raises $82.2m in placement exercise

About 50-60% will be invested in its real estate businesses.

Yoma Strategic Holdings (Yoma Strategic) raised $82.2m from a recent placement exercise.

According to a press release, the company will be issuing 155 million new ordinary shares for 53 cents each, representing an 8.2% interest in the company.

Yoma Strategic said around 50-60% of the proceeds will be invested in their real estate businesses including building rental properties and development properties at Pun Hlaing Estate and StarCity, making payments relating to the Yoma Central project, and capital expenditure for next phases of development of the two Dulwich International Schools.

About 15-20% of the proceeds will be invested in its automotive & heavy equipment businesses, which will include capital for Yoma Fleet, New Holland tractors, the JCB branch network expansion, and Volkswagen showrooms.

Another 15-20% will be allotted to KFC store expansion and new food and beverage investments.