Ron Sim, executive chairman of the V3 Group, has emerged as a substantial shareholder of mm2 Asia, which completed a rights issue recently that raised some $54.7 million to help service debt.
On April 19, Sim acquired 64.5 million mm2 Asia shares at 4.7 cents each on the open market. Following the consolidation of shares in his various trading accounts on April 24, Sim is now deemed to control a total of nearly 163.1 million shares, or 7% of the company. He used to hold 4.2%.
Sim, famous for founding the Osim brand of lifestyle products, has seemingly taken an interest in the entertainment business recently. Besides his interest in mm2, which produces entertainment content for various platforms, Sim is known to be one of the cornerstone investors in GHY Culture & Media, which listed on the SGX late last year.