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Brunei royalty and OSIM founder jointly buy 5.3% stake in UnUsUaL

Jeffrey Tan
Jeffrey Tan4/23/2018 07:30 AM GMT+08  • 4 min read
Brunei royalty and OSIM founder jointly buy 5.3% stake in UnUsUaL
SINGAPORE (Apr 23): On April 16, Brunei’s Prince Abdul Qawi and OSIM founder Ron Sim collectively acquired a 5.3% stake in concert and events company UnUsUaL. This was the result of an off-market sale of 55.5 million UnUsUaL shares by UnUsUaL Management
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SINGAPORE (Apr 23): On April 16, Brunei’s Prince Abdul Qawi and OSIM founder Ron Sim collectively acquired a 5.3% stake in concert and events company UnUsUaL. This was the result of an off-market sale of 55.5 million UnUsUaL shares by UnUsUaL Management, a subsidiary of mm2 Asia.

The price consideration was 46.5 cents a share, or $25.8 million in total. Prince Qawi and Sim’s regional fund R3 Asian Gems paid $22.8 million and $3 million, respectively. This implies that Prince Qawi bought 49 million UnUsUaL shares, or a 4.8% stake, while Sim acquired the remaining 6.5 million UnUsUaL shares, or a 0.6% stake.

The transaction has reduced the direct interest of UnUsUaL Management to 76.8%, or 790.3 million shares. Even so, it is still the company’s largest shareholder.

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