<article>Singapore-based film producer and distributor mm2 Asia has sold a 5.4 per cent stake in SGX Catalist-listed event and concert production firm <a href="https://www.dealstreetasia.com/?s=UnUsUaL" target="_blank" rel="noopener">UnUsUaL</a> for S$25.8 million ($19.6 million).</article>

Singapore-based film producer and distributor mm2 Asia has sold a 5.4 per cent stake in SGX Catalist-listed event and concert production firm <a href="https://www.dealstreetasia.com/?s=UnUsUaL" target="_blank" rel="noopener">UnUsUaL</a> for S$25.8 million ($19.6 million).
The stake was sold to Brunei&#8217;s Prince Abdul Qawi and R3 Asian Gems, a fund started by OSIM founder Ron Sim, for S$22.8 million (49 million shares or 4.76 per cent stake) and S$3 million respectively.
The shares were sold by a subsidiary of mm2 Asia at a price of S$0.465 per share. The company noted that it had no immediate plans for the proceeds of the sale.
&#8220;UnUsUaL has charted a remarkable growth trajectory since its listing on SGX-ST Catalist slightly more than a year ago, offering more and more international acts as well as expanding regionally into Taiwan, South Korea and China. As such, the participation of His Royal Highness Prince Abdul Qawi, serving as Chairman and Board Member for several companies in ASEAN, allows UnUsUaL access to strategic business relationships in the region,&#8221; said mm2 Asia executive chairman Melvin Ang.
Following the stake sale, UnUsUaL Management, the subsidiary of mm2Asia, will remain the largest shareholder with a 76.8 per cent stake.
mm2 Asia acquired the UnUsUaL Group in 2016. UnUsUaL was listed on the SGX-ST Catalist in April 2017.
UnUsUaL has an operational presence in Singapore, Malaysia and Hong Kong.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/sg-film-producer-mm2asia-acquires-controlling-stake-in-vividthree-4910/">SG film producer mm2Asia acquires controlling stake in Vividthree</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/spackman-entertainment-constellation-agency-89186/">SGX-listed Spackman Entertainment to acquire talent firm Constellation Agency for $12.3m</a>

Brunei's Prince Abdul Qawi bought a 4.76 per cent stake, while R3 Asian Gems purchased the rest.

Singapore's mm2 Asia sells 5.4% stake in events firm UnUsUaL for $19.6m

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Singapore's mm2 Asia sells 5.4% stake in events firm UnUsUaL for $19.6m

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief