Amata Holding Public Co begins share sales

Nyan Lin Hein

Amata Holding Public Company Ltd doing business mainly in hotel and tourism industry has started selling shares worth K2 million to public members.

Share sales were held at Sedona Hotel in Yangon on August 26. The company is due to sell shares not only to Myanmar citizens but also to foreigners, said company chairman Win Aung.

"Shares of our company will be sold both locally and internationally. We do this not because we underestimate local shareholders. We invite foreign shareholders as well in order to make our industry meet international standards. Shareholders are invited only after they have made a thorough assessment and a firm decision," said Win Aung.

One share of Amata Holding Co is worth K5,000. Now, sale of shares worth K2 million has started, and up to shares worth K10 billion will be sold.

Those shares of Amata Holding Public Company are being sold at KBZ Stirling Coleman Securities Company, Myanmar Securities Exchange Centre Company, AYA Trust Securities Company, CB Securities Company and Amara Investment Securities Company from August 13 to September 12.

Win Aung said the applications that failed to meet the rules and disciplines prescribed by the company and incomplete documentations would be turned down.

Myanmar established Yangon Stock Exchange on March 25, 2016 and share sales were conducted by some public companies.

Amata Holding Public Company Ltd runs a wide array of businesses such as luxury tours, hotel and catering services, restaurants and pubs, hot air balloon services for observing sceneries. The company was awarded an excellent service performance award in 2016.

The whole country had 1,666 licensed hotels with 66,913 rooms up to June this year, and the number of hotels has increased by over 510 over the past three years, according to figures released by the Ministry of Hotels and Tourism.

Yangon city has the largest number with 399 hotels (20,845 rooms), followed by Mandalay with 215 (8,940 rooms), Taunggyi/Inlay with 148 (4,483 rooms) and Bagan/Nyaung with 85 (2,919 rooms).

Till the end of June, the ministry issued 2,773 tour licences, out of which one is owned by a foreign company and 41 jointly owned by local and foreign companies. Moreover, the ministry has issued 2,569 tour-related transport licences and 4,404 tour guide licences plus 3,579 local tour guide licences.

Out of the 14 states and regions in Myanmar, Yangon Region, Mandalay Region and Shan State attracts most international tourists.