OREANDA-NEWS. April 21, 2015. MySQUAR today announces its intention to apply for admission of its issued and to be issued Shares to trading on AIM, a market operated by the London Stock Exchange ("Admission") and to carry out a placing of new Shares with institutional and professional investors (the "Placing").

MySQUAR is the first local language, social and entertainment company created with the intention of enriching the lives of the Myanmar people, through deep, accessible and rich online experiences.

The current principal activity of the Group is to design, develop and commercialise Myanmar- focused internet-based and mobile services, mobile messaging applications, including social networks, digital content, mobile games and to extend functionality to include in-app advertising, news aggregation, mobile payment services and ecommerce. The use of local language gives a sense of belonging and community to the users, which the Directors believe will enable a fast spread across the mobile device users for the purpose of user acquisition. 

The Group commenced operations in June 2013 and has developed a suite of products focusing on the Myanmar community. The Group's principal product, MyCHAT, a free to the user, mobile messaging application built for the people of Myanmar, was first released in Beta form in August 2014 with full release having occurred in March 2015. There were 574,200 users of MySQUAR as of 17 April 2015.

The Company is incorporated in the British Virgin Islands with the Group's principal operations based in Ho Chi Minh City, Vietnam, where the Group's principal development activities are carried out, and in Yangon, Myanmar from where the Group's marketing activities are performed.

The Group's strategy is to drive user acquisition through locally relevant products, acquire relevant consumer data and to monetise its assets through strategies including advertising, digital goods, eCommerce and other methods.

The Group intends to use its first mover advantage in Myanmar to secure a firm footprint in the Myanmar youth market and to take advantage of commercial opportunities arising from the increasing internationalization of Myanmar and rising penetration of mobile technologies.