SMG's prospects worth a premium, says Spackman

Singapore

LISTED Spackman Entertainment Group took into account significant growth prospects of Spackman Media Group (SMG) in deciding to pay more than book value to raise its equity stake in the Korean entertainment talent agency .

Responding to queries from the Singapore Exchange on Thursday, it cited valuation reports and valuation of SMG's shares to justify acquiring SMG shares at a significant premium to the net tangible asset (NTA) and net asset value (NAV).