SPACKMAN Entertainment Group said on Monday its associated company Spackman Media Group Pte Ltd (SMG) on Aug 21 entered into the Hong Kong IPO Engagement Letter to appoint KGI Capital Asia to act as the sole global coordinator.
KGI has also been appointed to act as the sole sponsor, bookrunner and lead manager in respect of the proposed listing of SMG or its affiliates, which together will form the resultant listing group subsequent to a restructuring exercise, on the Hong Kong stock exchange.
The company said it is of the view that the proposed listing will unlock value for its shareholders by ascribing a separate and distinct valuation for SMG.
SMG is in the process of appointing the relevant professionals for the purposes of the proposed listing.
Spackman Entertainment said the proposed move is in its preliminary stages, and is subject to, inter alia, consultations and/or requisite approvals/clearance from the relevant regulatory authorities in Singapore and Hong Kong.