Companies Markets

mm2 Asia to market 390m brand-new shares at S$ 0.05 each to 2 financiers

home entertainment business mm2 Asia on Wednesday (Feb 23) introduced that it intends to position out S$ 19.5 million in brand-new shares to 2 financiers.

An overall of 390 million brand-new shares will certainly be cost S$ 0.05 each to Goi Seng Hui and also Oei Hong Leong.

The positioning shares stand for 14.4 percent of the bigger share funding of the business.

Goi is the exec chairman of international food and also drink producer Tee Yih Jia Team and also GSH Firm. Oei is the chairman of Chip Lian Investments, the Oei Hong Leong Structure and also the Nei Xue Flavor gallery.

The positioning will certainly increase for the business internet cash money profits of around S$ 19.3 million after subtracting approximated costs of around S$ 200,000. Of this, 38.9 percent will certainly be made use of to minimize financial institution loanings for the following one year; the continuing to be 61.1 percent will certainly enter into basic capital.

The positioning cost stands for a 9.58 percent discount rate to the quantity heavy typical cost of S$ 0.0553 per share, based upon the professions done on Feb 23.

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Shares of mm2 Asia finished Wednesday at S$ 0.055, down S$ 0.002 or 3.5 percent.

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