ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business deals

Singapore's Yoma increases stake in Myanmar's Wave Money

$6m investment strengthens foothold in fast-growing mobile payments sector

Wave Money is the largest mobile payment services provider in Myanmar. Transactions via its platform exceeded 2 trillion kyat for the first time in 2018. (Photo by Yuichi Nitta)

HANOI -- Singapore Stock Exchange-listed Yoma Strategic Holdings has agreed to buy an additional 10% in Digital Money Myanmar (Wave Money) from Yangon-listed First Myanmar Investment for $6 million.

The transaction involves 100,000 ordinary shares and 3.5 million redeemable preference shares, YSH said in a statement. The consideration of $6 million was based on a total equity value of Wave Money at $59.92 million. The transaction value will not exceed $10 million in case a third-party investor acquires an interest in Wave Money at a higher valuation within 12 months, it added.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more