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

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.