MySQUAR Limited floats on AIM
July 2, 2015
Kerman & Co were pleased to act for MySQUAR Limited (“MySQUAR” or the “Company”) on its admission to trading on AIM on Wednesday 1 July 2015. The Company successfully carried out a placing of 16,776,680 new shares at a price of £0.10 per share. The total number of shares in issue at Admission was 184,615,189 shares giving the Company a market capitalisation of approximately £18.5 million on Admission at the placing price.
MySQUAR’s principal activity is to design, develop and commercialise Myanmar-focused internet-based and mobile services, mobile messaging applications, including social networks, digital content, mobile games and to extend functionality to include in-app advertising, news aggregation, transaction-based monetisation and ecommerce.
Commenting on the AIM admission of MySQUAR, CEO Eric Schaer said,
“We are delighted to be able to join London’s AIM market. MySQUAR’s vision is to connect the people of Myanmar after almost 50 years of isolation. The Company sees its mission as inspiring creativity, entertainment and a better standard of living in Myanmar by offering world class consumer technology solutions. MySQUAR is now at the forefront of the country’s technological revolution and the success of the AIM flotation will send a powerful, positive signal to the country’s entrepreneurs and to inward-investors alike.”
The Kerman & Co Capital Markets team consisted of Joan Yu who led the deal, with the support of Cindy Wang (Solicitor – NSW, Australia), Elena Kaltsas (Paralegal) and Amber King (Paralegal).
Corporate Partner Joan Yu said: “Kerman & Co are delighted to have assisted MySQUAR on its successful IPO and very much enjoyed working with the MySQUAR team. We look forward to seeing the Company in its next stage of growth and development.”