Business briefing

Spackman IPO placement shares fully subscribed

SOUTH Korean film production company Spackman Entertainment Group said yesterday that all the 69,440,000 placement shares for its initial public offering (IPO) in Singapore, at a share price of 26 Singapore cents, have been validly subscribed.

Havenport Asset Management, Atlantis Investment Management (Hong Kong), Atelier Portfolios - Asian Labels & Brands, JF Asset Management and Aegis Portfolios Managers each took up 5 per cent or more of the placement shares. The listing and trading of shares is expected to start at 9am on Tuesday on the Catalist Board of the Singapore Exchange.