StarHub acquires 9% stake in MM2 Asia for SGD 18 mln
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Singapore operator StarHub has acquired a 9.05 percent stake in film and TV content producer MM2 Asia for SGD 18.04 million. StarHub will collaborate with MM2 to expand and differentiate its pay TV offerings through original content creation. In addition, StarHub can leverage MM2’s regional presence to market and distribute its own localised content beyond Singapore.
StarHub has agreed to subscribe for an aggregate of 44,000,000 new ordinary shares in the capital of MM2, by way of a private placement. The aggregate consideration for the placement shares is SGD 18.04 million. The price per placement share is SGD 0.41.
Questions & Answers
Q.What is the primary reason StarHub has acquired a stake in MM2 Asia?
What is the primary reason StarHub has acquired a stake in MM2 Asia?
StarHub aims to expand and differentiate its pay TV offerings by collaborating with MM2 on original content creation. It also plans to use MM2's regional presence to market and distribute its localised content beyond Singapore.
Q.How much did StarHub pay for the 9.05 percent stake in MM2 Asia?
How much did StarHub pay for the 9.05 percent stake in MM2 Asia?
StarHub paid SGD 18.04 million for the 9.05 percent stake. This amount was for 44,000,000 new ordinary shares acquired via a private placement.
Q.What type of business is MM2 Asia?
What type of business is MM2 Asia?
MM2 Asia is identified in the article as a film and TV content producer. This aligns with StarHub's goal of expanding its pay TV offerings through content creation.
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