SINGAPORE (Sept 17): Along with its parent mm2 Asia, concert producer UnUsUaL is diving into China with an eye on the growing demand for live entertainment. UnUsUaL had its IPO last year, raising $17.4 million in net proceeds, part of which was used to acquire a major stake in its long-term Chinese partner Beijing Wish. With the 49% interest, for which UnUsUaL paid RMB25.2 million ($5.05 million), the company could more than double its revenues by 2020.

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“mm2 opens doors for us in China,” says Leslie Ong, who co-founded UnUsUaL and is now the CEO and executive director of the company. He recounts how mm2’s executive chairman would often give him new contacts in China to follow up on. “Melvin Ang is like a walking salesman for me,” he says. Last September, Ong and his brother Johnny bought $5 million worth of mm2’s shares at 48.5 cents apiece from Ang. The shares represented a 0.89% interest in the company.

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