Local filmmaker Mm2 Asia said today that it plans to place out new shares to three investors to raise $5 million.
It will sell 6.35 million shares at 78.72 cents a share to Hesheng Media, Apex Capital Group and Maxi-Harvest Group. Hesheng will take 1.27 million shares, and others will take approximately 2.5 million shares each.
Hesheng is mm2’s pre-IPO shareholder and the increase stake will allow for closer working ties between the two companies, say mm2. The other companies are private investment entities.
All net proceeds are used for general working capital.
Mm2 closed lower 0.63% to 78.5 cents yesterday.
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It will sell 6.35 million shares at 78.72 cents a share to Hesheng Media, Apex Capital Group and Maxi-Harvest Group. Hesheng will take 1.27 million shares, and others will take approximately 2.5 million shares each.
Hesheng is mm2’s pre-IPO shareholder and the increase stake will allow for closer working ties between the two companies, say mm2. The other companies are private investment entities.
All net proceeds are used for general working capital.
Mm2 closed lower 0.63% to 78.5 cents yesterday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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