Singapore-registered Karen Enterprises and Integrative Design & Project Management (IDPM), which are backing the transformation of Mu Aye Pu village in the Karen state of Myanmar into a city, are looking to raise $100 million via an initial coin offering (ICO) for the project’s second phase of development.
The organisations are considering the capital raise through ICO either in Liechtenstein or Singapore depending on regulations, said Nigel Grier, development director at the Mu Aye Pu Development Corporation registered in Singapore and co-founder of Karen Enterprises.
