SINGAPORE (Sept 20): mm2 Asia, whose CEO Chang Long Jong is on The Edge Singapore's cover this week, has appointed Haitong International Securities to conduct a strategic review of the group’s businesses.
Through the review process, mm2 aims to enhance its corporate profile, branding and market awareness in the North Asia markets where it currently operates.
It also hopes to explore the possibility of seeking “a foreign listing of some of the group’s key assets and/or businesses, which may include the cinema operations, to further enhance shareholder value”.
In its filing to the SGX on Wednesday, the group emphasises there is no assurance that the strategic review will result in a corporate exercise or its intended results.
mm2’s latest announcement comes amid its proposed spin-off and listing of its subsidiary Vividthree Productions, a visual effects company with the rights to produce the virtual reality (VR) exhibition of Korean hit movie Train to Busan.
The group spun off its concert production business, UnUsUaL, in a Catalist listing last year.
Shares in mm2 closed 1.35% higher at 38 cents on Wednesday.