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FILM and TV content producer mm2 Asia on Thursday said one of its investees, UnUsUal Pte Ltd, has appointed professionals to prepare them for listing on the Catalist board of the Singapore Exchange.
It highlighted that the proposed listing is in its preliminary stages and is dependent on the results of preparatory work to be undertaken, requisite approvals from the relevant regulatory authorities, compliance with the Catalist rules and the then-prevailing market conditions. The directors may also decide not to proceed with the listing later on.
This followed news last month that mm2 was buying a 51 per cent stake in the UnUsUaL group of companies for up to S$26 million.
Under the agreement, a new company, UnUsUaL Pte Ltd, will be set up for the purpose of holding all the shares in the target companies.
UnUsUaL is involved in event and concert production. mm2 sees synergy in their business activities, and believes that the acquisition will allow it to project its presence in the greater South-east Asia and North Asia marketplace.
mm2 shares ended half a cent lower at S$0.67 on Thursday.