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    Z59   SG1T74931364

YOMA STRATEGIC HOLDINGS LTD.

(Z59)
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Delayed Singapore Stock Exchange  -  05/26 10:45:38 pm EDT
0.1400 SGD    0.00%
05/20Yoma Strategic Holdings Ltd. Announces Resignation of Loo Hwee Fang as Group General Counsel and Company Secretary
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05/16Yoma Strategic Trims Losses in Six Months to March
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04/24Yoma Strategic Acquires Remaining 50% Stake in MM Cars Myanmar
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Yoma Strategic : to Buy Telenor's 51% Stake in Wave Money

06/23/2020 | 09:20pm EDT

By Ben Otto

Yoma Strategic Holdings Ltd. will pay $76.5 million to acquire Telenor ASA's 51% stake in Myanmar mobile financial services provider Wave Money.

Yoma Strategic said in a stock-exchange filing Wednesday that it would become the controlling shareholder of Wave Money, and it will fund the acquisition through internal resources and a consortium of investors.

Yoma Strategic acquired an initial 34% stake in Wave Money in 2018, running the company as a joint venture with Norway's Telenor. With the new transaction, Wave Money will become a subsidiary of Yoma Strategic.

Yoma Strategic said in May that Ant Financial Services Group, the operator of Alipay, would invest $73.5 million in Wave Money, becoming a substantial minority stakeholder.

Wave Money runs a network of more than 58,000 agents in urban and rural areas across Myanmar. Its transfer volume more than tripled on year in 2019 to about $4.3 billion, Yoma said.

"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," said Melvyn Pun, the company's chief executive officer. "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."

 

Write to Ben Otto at ben.otto@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
TELENOR ASA 0.00% 129.5 Real-time Quote.-6.57%
YOMA STRATEGIC HOLDINGS LTD. 0.00% 0.14 Delayed Quote.6.11%
All news about YOMA STRATEGIC HOLDINGS LTD.
05/20Yoma Strategic Holdings Ltd. Announces Resignation of Loo Hwee Fang as Group General Co..
CI
05/16Yoma Strategic Trims Losses in Six Months to March
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04/24Yoma Strategic Acquires Remaining 50% Stake in MM Cars Myanmar
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04/14Yoma Strategic Acquires Remaining 50% Stake in MM Cars Myanmar from Mitsubishi
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02/25Yoma Strategic Holdings Ltd. Announces Change of Financial Year End from 30 September t..
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02/13Yoma Strategic Holdings Ltd. Announces Group Revenue Results for the Three Months Ended..
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01/27YOMA STRATEGIC : FY2021 AGM Presentation
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01/18Norway's Telenor to sell stake in Myanmar's Wave Money
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01/17Telenor Continues Myanmar Exit With $53 Million Sale of Wave Money Stake
DJ
01/16Yoma to Acquire Telenor's 51% Stake in Digital Money Myanmar for $53 Million
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Financials
Sales 2021 87,3 M - -
Net income 2021 -19,7 M - -
Net Debt 2021 406 M - -
P/E ratio 2021 -13,8x
Yield 2021 -
Capitalization 228 M 228 M -
EV / Sales 2020 8,56x
EV / Sales 2021 7,03x
Nbr of Employees 3 700
Free-Float 55,3%
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Mean consensus -
Number of Analysts 0
Last Close Price 0,14
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Managers and Directors
Chi Tung Pun Chief Executive Officer & Executive Director
J. R. Ching Chief Financial Officer
Serge Pun Executive Chairman
Rita Nguyen Chief Technology Officer
Su-Yen Wong Lead Independent Non-Executive Director