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Myanmar’s MySQUAR to float on UK’s AIM


MySQUAR faces heavy competition from Facebook. Photo: MySQUAR

MySQUAR faces heavy competition from Facebook. Photo: MySQUAR

Myanmar’s only social media platform in the local language is planning an initial public offering on London’s AIM, as it seeks to exploit the investment that is pouring into the country’s telecommunications infrastructure and bringing millions of people online, according to the Financial Times on March 22.

MySQUAR plans to raise US$2.5 million [K2.5 billion] and hopes to attain a valuation of $25 million when it floats this spring on AIM, formerly known as the Alternative Investment Market, a submarket of the London Stock Exchange.

According to the Financial Times, the Myanmar language social media platform expects to have more than 460,000 users by the end of this month and to more than triple this to over 1.48 million by the end of the year.

MySQUAR’s local platform is competing with Facebook which is growing in popularity in Myanmar.

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