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Singtel's HOOQ companies raise their share capital
SINGAPORE Telecommunications' (Singtel) wholly owned subsidiary HOOQ Holdings has increased its share capital from some S$45 million to about S$62 million through the allotment and issue of some 17 million shares at S$1 each to Singtel.
In turn, HOOQ Digital Holdings - a wholly owned unit of HOOQ Holdings - has also increased its share capital by the same quantum through the allotment and issue of ordinary shares at S$1 per share to HOOQ Holdings.
HOOQ Holdings and HOOQ Digital Holdings are investment holding companies.
Following a joint-venture agreement between HOOQ Digital Holdings, Warner Bros Entertainment Inc and AXN Investment Inc on Jan 30, 2015, the three parties have subscribed for and been allotted and issued further shares in the capital of HOOQ Digital.
As a result, HOOQ Digital's share capital has risen from some US$51 million to US$70 million, with HOOQ Digital, Warner Bros and AXN's shareholding remaining at 65 per cent, 17.5 per cent and 17.5 per cent respectively.
HOOQ Digital is involved in the acquisition, aggregation, production, marketing, distribution and sale of films, television, and related video content, through an over-the-top video service in multiple regional markets.