Fraser and Neave’s wholly owned subsidiary F&N Investments (F&NI) subscribed for 5.2 million new shares of Emerald Brewery Myanmar Ltd. (EBML) at US$1 each, the soft drink maker said in a filing to SGX Thursday.
Another investor in EMBL, Sun Ace, has also subscribed for another 1.3 million new shares at US$1 each, the filing said.
The third partner in EMBL, Than Lwin Aye Yar Industrial Production & Construction (TLAY) did not subscribe for any additional shares, the filing said.
After the subscriptions, F&NI holds 37.51 million EMBL shares, or a 79.83 percent stake, while Sun Ace holds 9.4 million shares, or a 20 percent stake, the filing said. TLAY continued to hold 76,500 shares, or a 0.16 percent stake, the filing said.
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