A company making its debut on the London Stock Exchange today has said it is targeting expansion in Myanmar's fast-growing consumer sector.
Myanmar Strategic Holdings (MSH) is aiming to raise $4.3m (£3.3m) on its admission to the London market which it has announced today, as it targets growing its portfolio to 20 locations in the next three years.
The float will give the company an estimated market capitalisation of $22.7m (£17.5m).
The company, which was founded in 2013, previously specialised in hospitality. It has three boutique hotels in Bagan, Mandalay and Inle Lake.
With the acquisition of the rights to develop Pearson's English language learning franchise Wall Street English, the group expanded into education. It has now said it plans to focus more widely on the country's burgeoning consumer sector.
“Myanmar represents an excellent opportunity, both for the local people and for investors," explained chief executive Enrico Cesenni. "Its re-emergence after years of isolation means that it is now enjoying a rapid period of growth and development as it converges with its South East Asian neighbours.
"As the country’s urban population increases, and average consumer incomes continue to rise, preferences are shifting towards higher quality products and experiences and the country has the potential to be the next great economic growth story."
Discretionary spending in recreation, education and culture in Myanmar is set to grow to $14bn by 2030, up from $2bn in 2010.
Cesenni founded the company after a decade working in investment banking at Lehman Brothers and Goldman Sachs, based in London.