This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.
International technology, media and telecoms law firm Olswang LLP has advised broker Beaufort Securities Limited on Myanmar-language social media, entertainment and payments platform MySQUAR's secondary equity placing.
Placing 13,000,000 shares on the AIM market of the London Stock Exchange (together with matching warrants), MySQUAR has raised £455,000 (before expenses) from this equity placing, which will be used to fund the working capital needs of the business and the development of new businesses including VoIP voice calling and gaming. Olswang LLP has previously acted for Beaufort Securities Limited as broker, together with SP Angel Corporate Finance LLP as Nominated Adviser, in connection with MySQUAR's admission to trading on AIM on 1 July 2015.
Leading the Olswang team was Corporate Partner Azlinda Ariffin-Boromand, who commented: "Following our work advising Beaufort Securities on MySQUAR's AIM admission last year, it's great to see the momentum that is building for the company, exemplified by its latest funding round. MySQUAR is among the most exciting companies in Myanmar's emerging tech scene, and we're delighted that this cash injection will help fuel the development of new revenue streams and the further growth of its user-base."
Azlinda Ariffin-Boromand was supported on this transaction by Corporate Associate Nicole Gyring-Nielsen.
Read more about Olswang’s international legal practice on the firm’s website.