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Hot stock: mm2 Asia gains on listing plans of related events firm

Friday, June 10, 2016 - 09:28
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SHARES of film and TV content producer mm2 Asia gained on Friday, after it said one of its investees, UnUsUal Pte Ltd, has appointed professionals to prepare for a listing on the Catalist board of the Singapore Exchange.

The stock rose 2.5 Singapore cents, or 3.7 per cent, to S$0.695 as at 9.15am. It was among the most actively traded stocks in early morning trade, with 1.3 million shares traded.

mm2 earlier said it would buy a 51 per cent stake in the UnUsUaL group of companies for up to S$26 million. Under the agreement, 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.

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