<article><a href="http://dealstreetasia.com/tag/starhub" target="_blank">StarHub</a> has acquired a 9.05 per cent stake in Singapore-headquartered film and TV content producer mm2 Asia for S$18.04 million ($13.3 million) amounting to an aggregate 44 million new shares in a private placement.</article>

<a href="http://dealstreetasia.com/tag/starhub" target="_blank">StarHub</a> has acquired a 9.05 per cent stake in Singapore-headquartered film and TV content producer mm2 Asia for S$18.04 million ($13.3 million) amounting to an aggregate 44 million new shares in a private placement.
mm2 Asia  has a presence in China, Hong Kong, Malaysia and Taiwan through its group of companies and strategic partnerships. mm2 Asia has co-produced and distributed more than 50 films across Asia since 2008.
In a <a href="http://infopub.sgx.com/FileOpen/SubscriptionOfSharesInmm2.ashx?App=Announcement&amp;FileID=394873" target="_blank">filing</a>, the aggregate consideration for the placement puts the price per placement share at S$0.41, which is a 19.2 per cent discount to the volume weighted average price per MM2 share of S$0.5077 based on trades done on the SGX on 22 March 2016.
mm2 Asia CEO Melvin Ang said, “For many years, mm2 has been working closely with StarHub across many areas. This equity participation by StarHub in mm2 cements our working relationship and is a significant endorsement for our company. Leveraging StarHub&#8217;s 
multiple platforms, this strategic partnership would further strengthen our ability to create 360-degree content for our target audience.&#8221;
Having established a partnership with mm2 Asia since 2012, StarHub has worked on such projects as the local Singapore-made firms Ah Boys To Men and Lion Men, having invested in the movie series. Both of these films were co-produced by mm2 Asia. Currently, the two firms are collaborating on Hear Me Sing, an online Chinese singing competition to be launched in April.
StarHub CEO <a href="http://dealstreetasia.com/tag/tan-tong-hai" target="_blank">Tan Tong Hai</a> explained: &#8220;Taking a stake in mm2 is a strategic move. It unlocks opportunities to expand our pay TV offerings through original content creation that will set us apart in the cluttered content space. mm2 can also potentially extend the reach of our localised content through marketing and distribution efforts beyond Singapore shores.&#8221;
Tan added, &#8220;In addition, we may choose to tap on mm2’s cineplex business to showcase our content, as well as gain access to top-rated concerts and artistes through UnUsUaL of which mm2 owns a stake.”
StarHub’s acquisition of a stake in mm2 Asia is expected to be completed in May 2016, subject to the fulfillment of mutually-agreed conditions.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/st-telemedia-and-starhub-to-form-medahub-jv-9466/">ST Telemedia invests S$36.9m in JV with StarHub to to develop MediaHub</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/ooredoo-starhub-join-hands-to-provide-data-service-in-myanmar-5838/">Ooredoo, StarHub join hands to provide data service in Myanmar</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/singapore-dealbook-sdix-to-launch-in-september-2015-starhub-green-sold-for-s260m-9009/">Singapore Dealbook: SDIX to launch in September 2015; Starhub Green sold for S$260m</a>

Singapore: StarHub acquires 9% stake in mm2 Asia for $13m

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Singapore: StarHub acquires 9% stake in mm2 Asia for $13m

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief