The medical and engineering distributor plans to raise about $200,000 to become only the ninth company traded on Myanmar's main stock exchange. While import hurdles have postponed machinery deliveries by more than a year, the firm operates with minimal debt and funds itself through internal cash flow. Bourse authorities are optimistic about the offering, pointing to increased retail trading interest and higher benchmark index levels this year as signs of nascent market recovery.
Key points
The listing is primarily designed to improve corporate governance and attract future fore…: The listing is primarily designed to improve corporate governance and attract future foreign capital rather than fund immediate business expansion.
Severe import bottlenecks have pushed the company to pursue future foreign partnerships t…: Severe import bottlenecks have pushed the company to pursue future foreign partnerships to manufacture medical consumables locally.
Bourse management anticipates using this new offering to restart a pipeline that includes…: Bourse management anticipates using this new offering to restart a pipeline that includes possible interest from state-owned enterprises.
Sources checked by our analysis pipeline: 1
(Bloomberg) -- A Myanmar company is going public in the middle of a civil war and economic downturn, betting on an eventual recovery.
Concordia Pcl expects to raise about $200,000 in an initial public offering that will pave the way for Myanmar’s first main-board stock listing in more than three years. That compares with about $1.2 million raised in the bourse’s first IPO in 2018.
Its chairman, Than Win, said the listing is intended to prepare the family-owned business for longer-term growth rather than fund a major expansion now.
The medical and engineering equipment distributor wants to transform itself into a professionally run company, positioning it to attract foreign investment and expand when Myanmar’s political and economic conditions stabilize.
“We are not listing for short-term sentiment,” Than Win said in an interview at his office in Yangon. “We are building an enterprise designed to thrive over the next 10 to 20 years.”
It’s an unusual strategy in a country where businesses have grappled with conflict, economic disruption and international isolation since the military seized power in 2021. The United Nations…
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