FMI shares go public

The First Myanmar Investment Co Ltd (FMI) has begun sale of new shares worth 2.5 billion kyat (US$2.5 million) as of 9 January. The deadline for sale of 250,000 shares, worth 10,000 kyat each, has been set for 22 January. FMI says revenue generated from the sales will be utilised to expand operations. The company is currently involved in the Thilawa Special Economic Zone project and several construction projects in Burma including two large hotels in downtown Rangoon. The company also has stakes in banking, construction projects, car manufacture and several other ventures.

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