On Saturday, the National Unity Government (NUG) began the sale of Spring Development Bank shares, a sale set to run from 17 to 27 November.

Reportedly, 10% of the Spring Development Bank (SDB) will be offered for sale.

Calvin T, the spokesperson for SDB, said, "Our criteria for subscribing to the shares are straightforward. It necessitates having an SDB account with a balance. There are no restrictions based on nationality; both foreigners and citizens are eligible."

The deadline for registration is 27 November and the distribution activities will be conducted on 30 November and 1 December.

The shares can be purchased from where the SDB account is opened and also via connections of the SDB, spread across 22 countries.

According to information posted on its social networking page, the SDB asserts that it holds a legal license for banking and financial services issued by the Interim Central Bank of the NUG.

As announced on 15 November at a press conference on the pre-sale programme of the SDB – also known as the revolution bank – the NUG is the majority owner with plans to acquire 51% of the total shares. The remaining 49% is slated to be sold to the public, according to the SDB.

Tin Tun Naing, the NUG Minister of the Ministry of Planning, Finance, and Investment, stated that the income from the shares sold will be used in important sectors of the revolution. The NUG was set up following the Myanmar military coup in February 2021.