mm2 Asia announces launch of unit's IPO shares on Catalist

FILM and TV production company mm2 Asia on Tuesday announced the launch of the initial public offering (IPO) of shares for its unit UnUsUaL on Singapore Exchange's (SGX) Catalist board at a placement price of S$0.20 per share.

This spin-off and listing of UnUsUaL follows the lodgement of the preliminary offer document with SGX.

UnUsUaL is placing some 97million shares, with the size of the placement approximately at S$19.4 million and a market capitalisation at approximately S$128.6 million.

The placement shares are made available to retail and institutional investors in Singapore. Hong Leong Finance is the sponsor, issue manager, and placement agent for the placement.

mm2 Asia will retain an indirect shareholding interest in UnUsUaL of approximately 41.91 per cent immediately after the placement.