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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Yoma Strategic Holdings Ltd.    Z59   SG1T74931364

YOMA STRATEGIC HOLDINGS LTD.

(Z59)
  Report
End-of-day quote. End-of-day quote Singapore Stock Exchange - 10/29
0.255 SGD   -1.92%
10/13YOMA STRATEGIC : Completion Of The Acquisition Of 10% Interest In Digital Money Myanmar Limited
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10/04YOMA STRATEGIC : Response To SGX Queries
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09/25YOMA STRATEGIC : Use Of Placement Proceeds
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Yoma Strategic : plans to take controlling stake of Wave Money

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06/25/2020 | 12:59am EDT

Yoma Strategic Holdings will establish a new company, Yoma MFS Holdings (Wave Holdco) to increase its existing shareholding and take a controlling interest in Digital Money Myanmar Limited ('Wave Money'), according to a company press release.

Wave Holdco plans to acquire the entirety of Telenor Group's current 51% stake in Wave Money for US$76.5 million and will raise funds from a consortium of investors led by Yoma Strategic. Upon the completion of the transactions, Yoma Strategic will invest up to an additional US$25 million and become the largest controlling shareholder in Wave Money, cementing its role as a leading player in Myanmar's fintech sector.

Wave Money is a dominant mobile financial services provider in Myanmar, and the country's non-bank financial services sector is expected to see significant growth in the coming years supported by a large unbanked population. With financial technology and mobile solutions expected to play a significant role in this growth, the Proposed Acquisition will allow Yoma Strategic to strengthen its interest in Myanmar's financial services sector and forge greater collaboration between Wave Money and the Yoma Group's2 businesses.

'This acquisition is part of our goal to build a strong financial technology ecosystem in Myanmar. Wave Money continues to see sustained growth in its agent and digital platforms, with Wave Pay gaining strong traction during the COVID-19 pandemic through the acceleration in and adoption of cashless payment solutions. The investment by Ant Group will further fuel Wave Money's growth trajectory and will help to create a greater value for our shareholders in the longer term,' said Melvyn Pun, CEO, Yoma Strategic.

Wave Money runs a network of more than 58,000 agents or 'Wave Shops' in urban and rural areas across 295 out of the 330 townships nationwide. In 2019, Wave Money's transfer volume more than tripled yearon-year to reach MMK6.4 trillion (US$4.3 billion). During the same period, revenue and transaction numbers also tripled. Wave Money became EBITDA positive in September 2018, just two years after its launch and has continued to maintain its profitability.

© Pakistan Press International, source Asianet-Pakistan


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All news about YOMA STRATEGIC HOLDINGS LTD.
10/13YOMA STRATEGIC : Completion Of The Acquisition Of 10% Interest In Digital Money ..
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06/25YOMA STRATEGIC : plans to take controlling stake of Wave Money
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06/24TELENOR : divests shares in Wave Money
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Financials
Sales 2020 142 M 104 M 104 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 571 M 417 M 417 M
Capi. / Sales 2020 4,03x
Capi. / Sales 2021 3,86x
Nbr of Employees 4 000
Free-Float 55,4%
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Mean consensus BUY
Number of Analysts 2
Average target price 0,48 SGD
Last Close Price 0,26 SGD
Spread / Highest target 96,1%
Spread / Average Target 88,2%
Spread / Lowest Target 80,4%
EPS Revisions
Managers
NameTitle
Chi Tung Pun Chief Executive Officer & Executive Director
Serge Pun Executive Chairman
J. R. Ching Chief Financial Officer
Peng Ee Chan Lead Independent Non-Executive Director
Su-Yen Wong Independent Non-Executive Director