SG Dealbook: Vallianz raises $5m; Mou picks stake in mm2 Asia; Ley Choon to move to Catalist

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.

Also Read: 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.