CMS advises on $22.7m IPO of Myanmar Strategic Holdings
31 August 2017
The Corporate team at CMS Cameron McKenna Nabarro Olswang has advised Myanmar Strategic Holdings Limited (“MSH) on its IPO on the standard segment of the Official List and the London Stock Exchange's main market for listed securities.
MSH is an independent developer and operator of consumer businesses located in Myanmar, currently concentrating on Hospitality and Education and planning to focus on the broader consumer sector in Myanmar. Myanmar is one of the fastest growing economies within Asia Pacific. Its annual GDP growth stood at 6.4% for the year ended 31 March 2017, making it one of the top 10 fastest growing economies in the world. MSH intends to use the proceeds raised form the IPO to scale-up the group's operations across Hospitality and Education, expand and invest into other consumer-related sectors and for general working capital and cash resources for potential acquisitions.
Commenting on the IPO, Enrico Cesenni, CEO and Founder of MSH, said:
"I am delighted that MSH has joined the London Stock Exchange. We had fantastic support from the entire CMS team, combining the CMS Singapore team’s knowledge and experience of our business with the ECM expertise and market knowledge of the CMS London team. The IPO will expedite the execution of our growth strategy as we look to progress our hospitality and education divisions in Myanmar.
"We have built a solid foundation in Myanmar over the past four years and have a strong management team with extensive experience in both the region and within our operating sectors. We are excited by the opportunities that now present themselves to us as a listed company, which we believe will enhance our profile and provide access to the UK equity markets to support future growth. We now look forward to expanding our portfolio across hospitality and education, increasing the number of beds we manage and rolling out the Wall Street English brand to additional locations across the country."
CMS Corporate partner Alasdair Steele added:
"CMS Singapore have been assisting MSH for several years as it has built its business in Myanmar and we have been delighted to be able to support MSH across our offices with its London listing as it progresses to the next stage in its development."
The CMS team was led by Corporate partner Alasdair Steele, senior associate Henry Wood and associate Pauline Howcroft in London and client partner Adrian Wong and counsel Domenico Ferrari in Singapore.