Deal developments among listed company in Singapore has seen Vallianz Holdings entering into a S$7-million share subscription with Greatwill Asset Global Limited, while Timothy Mou has acquired a stake in mm2 Asia and Ley Choon has got the approvals for a transfer to the Catalist board.
Vallianz Holdings-Greatwill Asset Global deal
Vallianz Holdings Limited said it has entered into a subscription agreement with Greatwill Asset Global Limited for 350 million of its newly issued shares for S$7 million.
The subscription shares will be offered at S$0.02 per share and the subscription shares represent approximately 9.7 per cent of Vallianz’s present issued share capital.
The company said, fifty per cent of the proceeds will go towards the strengthening of strategic alliance or joint ventures while the remaining half will be used towards working capital that comprises mainly trade payables and general and administrative expenses.
After deducting expenses, the net proceeds will amount to approximately S$6.8 million.
Timothy Mou acquires stake in mm2 Asia
Timothy Mou, the manager of Chinese actress Fan Bing Bing and co-founder of Fan Bingbing Studio, has acquired 10 million shares in mm2 Asia at 48.5 cents each. This amounts to a consideration of S$4.85 million.
This was through a sale of vendor shares by mm2 Asia’s CEO and executive chairman Melvin Ang, who says it will aid the group in its expansion into the North Asia market.
Mou is the CEO of Wuxi Ai-mei-shen Film & TV Cultural, and also the CEO of a joint venture (JV) between Wuxi Ai-mei-shen and Zhejiang Talent Film & TV which produces the RMB 500 million ($104 million) drama series “Ying Tian Xia”. Fan is the lead actress and executive producer of the drama.
This latest transaction sees Mou owning 0.95 per cent and Ang having 44.7 per cent in mm2 Asia.
Ley Choon approved for Catalist transfer
Ley Choon Group Holdings has secured approval-in-principle from the Singapore Exchange (SGX) to transfer to the Catalist secondary board of the SGX from the Mainboard.
This move is subject to certain conditions, including obtaining shareholders’ approval. In November 2016, due to its market capitalisation, business and risk profile. Ley Choon sought to move to the Catalist in order to connect with a more appropriate pool of investors.