Myanmar's First Private Bank to issue more shares

First Private Bank, one of the largest private banks in Myanmar, is planning to issue more shares as it has recently attained official permission to increase its authorised capital to 30 billion kyats (around US$35.19 million).

"The share prices have risen sharply since its establishment. We will issue more shares gradually to reach our target [30 billion kyats]," said an official from the bank.

The initial price of the company’s shares was 10,000 kyats (around US$11.73) per share, but it has by far risen to 17,000 kyats (around US$19).

The bank was established in 1992 as a public company, with the authorised capital of 10 billion kyats (around US$11.73 million).

The bank offers financial services as well as remittance and foreign exchange services and has operations at home and abroad.

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/1554-myanmar-s-first-private-bank-to-issue-more-shares