BUSINESS – Air Bagan to offer shares to staff

Air Bagan has announced a plan to distribute 40 percent of its more than 30 million shares to staff members for free as it bids to be listed as a public company. The Burmese airline said it had signed all necessary paperwork at the Office of the Registrar of Deeds and Assurances on 16 July. The airline, founded in 2004 by business tycoon Tay Za, is on the US sanctions list.