MAEX makes right issues for existing shareholders

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A potential investor is seen observing the Yangon Stock Exchange.

Myanmar Agro Exchange Public Co Ltd offered K1,500 per unit in right issues to its existing security holders, according to its recent notification.
Prior to listing on the Yangon Stock Exchange, the investors holding 10 shares can purchase one unit in the right issue, in accordance with stanza 59 in articles of the incorporation and stipulation in Section 63 (c) of the Myanmar Companies Law.
Shareholders are notified of the rights issue through SMS. They can respond whether they want to buy those shares or not via the link provided in the message by 10 March. Those shareholders who want to purchase shares themselves have to deposit 50 per cent of the share value by 31 March and the remaining must be paid by 31 May.
Those who fail to make the second payment are entitled to hold appropriate share units which are equivalent to their initial deposit, according to the decision of the board of directors, as per the notification.
The security holders who did not reply in the set period are not allowed to buy the equities. Stock dividends for the 2022-2023 financial year will be equally paid out to those who purchase shares in rights issues before the share dividend notice. — TWA/EM

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